ATIF Holdings Congratulates Its Client Addentax Group Corp. on Its Uplist to Nasdaq, Raising $25 Million

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Sep 02, 2022, 08:03 ET

ATIF Provided OTC Listing Advisory Services to Addentax in 2016

IRVINE, Calif., Sept. 2, 2022 /PRNewswire/ -- ATIF Holdings Limited (Nasdaq: ATIF) (the "Company," or "We"), a holding company providing business and financial consulting services in Asia and North America, is pleased to announce that its client, Addentax Group Corp. (Nasdaq: ATXG, "Addentax"), whose common stocks was traded on OTC Markets, has been approved to list on Nasdaq Capital Market and made a strong debut on August 31, 2022.

Addentax is an integrated service provider focusing on garment manufacturing, logistics service, property management and subleasing, and epidemic prevention supplies. It announced the pricing of an underwritten public offering (the "Offering") of 5,000,000 shares of its common stock at a price to the public of $5.00 per share, for total gross proceeds of approximately $25 million, before deducting underwriting discounts and other related expenses.

On its first day of trading on August 31, 2022, Addentax opened at $27.00 and closed the day at $656.54, a 13,031% jump from the offering price $5.00 with a market cap of $20.8 billion.

Jun Liu, President, Chairman of the Board, and CEO of ATIF, commented, " We are excited to hear the news and we congratulate Addentax on its successful uplist to Nasdaq! It takes professionalism and patience to nurture a company. We served as a advisor to Addentax on its OTC listing in 2016 and today it finally made its debut on Nasdaq. Moreover, Addentax shows its strong performance on its first day of trading, and its market capitalization has soared 130 times on its closing day. I sincerely hope that with the boost of the market, Addentax will make further achievements and continue its good performance!"

About ATIF Holdings Limited

ATIF Holdings Limited ("ATIF") is a holding group with business consulting, asset management, and investment businesses, with offices in Los Angeles, California, Hong Kong, and Shenzhen, China. ATIF mainly provides IPO Advisory Services to small and medium-sized enterprises in Asia and North America. ATIF has advised several enterprises in China in their plans to become publicly listed in the United States. ATIF was awarded the "Top 10 Best Listed Companies 2019" from the "Golden Bauhinia Award," the highest award in Hong Kong's financial and securities industry. For more information, please visit https://ir.atifchina.com/.

To learn more about IPOEX, our financial services platform, please visit: https://www.ipoex.com/

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SOURCE ATIF Holdings Limited