Moko Social Media rises after IPO prices at $8.3M

Associated Press |

NEW YORK (AP) — Shares of Moko Social Media rose Friday after the Australian company's U.S. initial public offering priced at $8.3 million.

The IPO of 1.1 million American Depositary Shares priced at $7.50 each. That was below the company's expectations.

The stock gained 10 cents, or 1.3 percent, to $7.60 in midday trading. It is trading on the Nasdaq Global Market under the ticker symbol "MOKO."

Moko Social Media Ltd. runs a U.S. social media mobile ad network and an Australian flash sale site for limited-time sales. The company plans to use the proceeds of its IPO to hire new technology staff in Australia and sales and marketing workers in the U.S., and it will buy servers and other IT infrastructure.

The underwriters of the offering will have an option to buy another 165,000 U.S. shares.

DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to:


Symbol Name Price Change % Volume
TBACQ Tandy Brands Accessories Inc. 0.00 0.00 0.00 0


Emerging Growth

Kiwa Bio-Tech Products Group Corp

Kiwa Bio-Tech Products Group Corp develops, manufactures, distributes and markets, cost-effective and environmentally safe bio-technological products for agriculture in China.

Private Markets


Blockchain currencies (e.g. Bitcoin) provide a new disruptive way to transfer value between parties over the internet as opposed to going through banks. GoCoin provides online merchants with a suite…


Cloudera offers enterprises a new data platform built on the Apache Hadoop open-source software package. Hadoop is a data-management platform that can consolidate data in a single repository for comprehensive…