Masonglory Limited's Quiet Period Will End on August 18th (NASDAQ:MSGY)

Key Points

• Masonglory Limited's (NASDAQ:MSGY) quiet period ends on August 18th, following its IPO on July 8th where it raised $6,000,000 by issuing 1,500,000 shares at $4.00 each.
• After the quiet period, brokerages that underwrote the IPO are expected to begin research coverage on the company.
• As of now, Masonglory's stock is trading at $12.00 and has experienced a 5.0% increase recently, with a 52-week range between $3.83 and $12.20.

Masonglory's (NASDAQ:MSGY - Get Free Report) quiet period is set to expire on Monday, August 18th. Masonglory had issued 1,500,000 shares in its initial public offering on July 8th. The total size of the offering was $6,000,000 based on an initial share price of $4.00. During Masonglory's quiet period, insiders and any underwriters that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company's quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded Masonglory to a "hold" rating in a report on Saturday, July 19th.

Masonglory Price Performance

Shares of MSGY stock traded up $0.10 during trading on Thursday, reaching $11.43. 129,824 shares of the company's stock were exchanged, compared to its average volume of 184,118. Masonglory has a twelve month low of $3.83 and a twelve month high of $12.20.

Masonglory Company Profile

Masonglory Limited is a subcontractor providing wet trades and related ancillary services to private and public sectors. Masonglory Limited is based in Hong Kong.