China Garment Manufacturing & Logistics Stock Addentax Group Increased by 13,000% on NASDAQ IPO to $20 Billion Market Value, Revenue of $12.7 Million for 2021
2nd September 2022 | Hong Kong
China garment manufacturing & logistics stock Addentax Group share price had increased by more than 13,000% on NASDAQ IPO (Wed, 31/8/22) to a $20 billion market value, with reported revenue of $12.7 million for 2021 (Ending March 2022). Addentax had uplisted its shares from the OTC market, raising a $25 million IPO via offering 5 million shares at $5. In July & August 2022, AMTD Digital and Magic Empire had also made headlines in their IPO with their share prices surging. AMTD Digital (a one-stop digital solutions platform) market value had rise to more than $400 billion (2/8/22), and becoming one of the world’s top 10 most valuable company. AMTD Digital had recently IPO on NYSE ($1.4 Billon Market Value, ADR, New York Stock Exchange) in 2022 July with public float of less than 10% and reported revenue of $25 million in 2021. Previously, Hong Kong Li Ka-Shing CK Group had invested in AMTD Digital parent company AMTD Group, but had sold most of its shares in the AMTD Group. CK Hutchison: “CK Group sold a majority of its shares in AMTD Group, which is the parent company of AMTD Digital, nearly ten years ago. The CK Group does not hold any shares in AMTD Digital and has no business dealings with the company.” AMTD Digital: “During the period since our initial public offering, the Company noted significant volatility in our ADS price and, also observed some very active trading volume. To our knowledge, there are no material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date. The Company is also monitoring the market closely for any unusual trading activities or abnormalities, and would continue to maintain our communication channel wide-open to the public through our Investor Relations Office.” In June 2022, The Hong Kong Securities & Futures Commission (SFC) had seeked a 2 years ban on Chairman & CEO of AMTD Group Calvin Choi for professional misconduct, failing to disclose conflict of interest in LR Capital Financial Holdings when acting as advisor (Managing Director) at UBS for clients (2015: LR Capital Financial Holdings, China Minsheng and 2014: Xinte Energy, LR Capital China Growth Company). Chairman & CEO of AMTD Group Calvin Choi had filed for anonymity in his appeal, and had been rejected (Date of Ruling 29/4/22). In 2020, China Minsheng Investment Group had accused Calvin Choi of financial fraud.
“ China Garment Manufacturing & Logistics Stock Addentax Group Increased by 13,000% on NASDAQ IPO to $20 Billion Market Value, Revenue of $12.7 Million for 2021 “
Addentax Group
Incorporated in Nevada, Addentax operates primarily through subsidiaries in China, providing services such as garment manufacturing, epidemic prevention supplies manufacturing and distribution, logistics and property management. The company’s headquarters is located in Shenzhen, China.
AMTD Digital Statement
AMTD Digital Inc. (“AMTD Digital” or the “Company”) (NYSE: HKD), a comprehensive one-stop digital solutions platform headquartered in Asia, and a subsidiary of AMTD IDEA Group (NYSE: AMTD; SGX: HKB), expressed its appreciation of support from the investor community for the successful completion of its initial public offering (“IPO”) of 16,000,000 American depositary shares (“ADSs”) at a price of US$7.80 per ADS. The Company’s ADS trading in NYSE is still undergoing our initial stabilisation period whereby the underwriters have been granted a green-shoe option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 2,400,000 additional ADSs at the public offering price, less underwriting discounts and commissions.
During the period since our initial public offering, the Company noted significant volatility in our ADS price and, also observed some very active trading volume. To our knowledge, there are no material circumstances, events nor other matters relating to our Company’s business and operating activities since the IPO date. The Company is also monitoring the market closely for any unusual trading activities or abnormalities, and would continue to maintain our communication channel wide-open to the public through our Investor Relations Office.
AMTD Digital
AMTD Digital
About AMTD Digital Inc.
AMTD Digital Inc. is one of the most comprehensive digital solutions platforms in Asia. The Company’s one-stop digital solutions platform operates four main business lines including digital financial services, SpiderNet ecosystem solutions, digital media, content and marketing, as well as digital investments. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem.
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