Luda Technology Group Limited, a manufacturer and trader of stainless steel and carbon steel flanges and fittings products, has made its debut on the New York Stock Exchange (NYSE) under the symbol “LUD”. The company’s shares opened at $4.15, following an initial offering price of $4.00 per share yesterday.

The company announced the offering of 2,500,000 ordinary shares at the price of $4.00 per share. In addition, Luda Technology Group has granted the underwriter an option, valid for 45 days from the closing of the offering, to purchase up to an additional 375,000 ordinary shares at the offering price.

If the over-allotment option is exercised, the company anticipates gross proceeds of approximately $11.5 million, before the deduction of underwriting discounts, commissions, and estimated offering expenses.

The primary underwriter for the offering was Revere Securities LLC, a full-service broker/dealer. Pacific Century Securities, LLC, another full-service broker/dealer, served as the co-manager for the offering.

Luda Technology Group Limited has a history that dates back to 2004 with the establishment of Luda Development Limited in Hong Kong. The company expanded its business in 2005 with the setup of Luda (Taian) Industrial Company Limited, which started the manufacturing of flanges and fittings in a self-owned factory in China. With its headquarters in Hong Kong and a manufacturing base in Taian City, Shandong Province of the People’s Republic of China, the company has a sales network that spans China, South America, Australia, Europe, Asia (excluding China), and North America. The company’s customers include manufacturers and traders from the chemical, petrochemical, maritime, and manufacturing industries.