The stock of Mobile-health Network Solutions (NASDAQ: MNDR) is presently witnessing a discernible surge of 6.79% in the pre-market trading, soaring to a valuation of $17.78. This significant uptrend in Mobile-health further amplifies the 11.00% surge observed during the preceding session, culminating at $16.65. A commendable feat accomplished by MNDR is propelling its stock value on the US stock indices.
Mobile-health Network (MNDR), a trailblazing telehealth provider in the Asia-Pacific (APAC) region, is commemorating its successful debut on the Nasdaq stock exchange through an initial public offering (IPO). This milestone positions MNDR as the premier pure-play telehealth entity from APAC to be listed on US stock exchange.
The IPO represents a momentous stride for MNDR, reflective of the burgeoning demand for telehealth solutions throughout the APAC sphere. Its inclusion on the Nasdaq platform will invigorate expansion initiatives and broaden its base of investors.
Mobile-health Network recently concluded its IPO, offering a total of 2,250,000 Class A Ordinary Shares at $4.00 per share to the public. This endeavor amassed gross proceeds of US$9.0 million for the Company, before factoring in underwriting discounts and offering expenses. MNDR shares commenced trading on the NASDAQ Stock Market LLC on April 10, 2024.
The procedure was facilitated by Network 1 Financial Securities, Inc., which was acting as the Offering’s only book-running manager. Rajah & Tann Singapore LLP, Sidley Austin LLP, and Harney Westwood & Riegels Singapore LLP all offered legal guidance to the company.
The success of Mobile-health Network can be attributed to its prestigious placement of #41 on the Financial Times 2024 list of the 500 High-Growth Companies in Asia Pacific. This recognition highlights MNDR’s creative spirit and its revolutionary impact on the medical field.
MNDR had an exponential increase in its private-sector telemedicine income in the fiscal year that ended on June 30, 2023, which saw it soar by around 4.5 times, from US$1.5 million to US$6.7 million. This astounding expansion solidifies Mobile-health Network’s position as a leader in the telemedicine space.
