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What's Going On With Neo-Concept International Stock Friday?
Neo-Concept International Group Holdings Ltd. (NCI) shares rose on Friday after the company announced the closing of a public offering that raised approximately $8.1 million. The company issued 14,850,000 Class A ordinary shares at $0.5454 per share and plans to use the proceeds for business expansion and general working capital. NCI stock is trading significantly above its 20-day and 100-day simple moving averages, indicating strong short-term momentum, with shares up 20.89% at $2.63.