Hong Kong Internet of Things company Meihua Chuangfu (MGRT.US) landed on Nasdaq last night, priced at $4, and fell nearly 5% on its first day.

Mingtai Wealth Management (MGRT.US), which provides IoT solutions and services for enterprises in the Asia-Pacific region, conducted its IPO on the US stock market on July 16th. The company issued 3.8 million shares at $4 per share, raising a total of $15 million. The IPO was priced at the lower end of the $4 to $5 issuance range, and the stock fell 4.75% on its first day of trading to $3.81. Based in Hong Kong, Mingtai Wealth Management focuses on providing comprehensive IoT solutions and services to multiple industries through its operating subsidiary, QBS System Limited. The company aims to become the preferred IoT solution provider for enterprises and projects in the Asia-Pacific region. Its service offerings include IoT integration solutions, maintenance and support services, business process outsourcing (BPO) services, and trade sales. Mingtai Wealth Management is listed on the NASDAQ under the ticker symbol MGRT. D. Boral Capital served as the exclusive bookrunner for this transaction.