Hong Kong toy manufacturer KTech Solutions (KMRK.US) IPO priced at $4 per share, rising nearly 24% on the first day of trading.

Toy manufacturer KTech Solutions, based in Hong Kong, issued 1.6 million shares of stock at a price of $4 per share, raising $6 million. The pricing for this offering was at the lower end of the $4 to $5 issue price range, and the number of shares issued was 400,000 less than anticipated. KTech Solutions debuted on the NASDAQ on July 16th (Wednesday) and closed the first day of trading with a 23.75% increase. KTech Solutions is primarily involved in the design, development, testing, and sale of various toy products, ranging from simple plastic toys to more complex electromechanical toys. The company focuses on developing educational toys and learning kits suitable for infants and preschool children, with customers mainly located in Europe and North America. American Trust Investment Services was the exclusive underwriter for this transaction.