New York, Oct. 31, 2019 (GLOBE NEWSWIRE) -- Univest Securities, LLC, a FINRA and SIPC member full-service investment bank and securities broker-dealer firm, today announced the closing of previously announced the initial public offering (“IPO”) for its client Happiness Biotech Group Limited

Happiness Biotech Group, a China-based provider of dietary supplements used in traditional Chinese medicine, raised $11 million by offering 2.0 million shares at $5.50, as filed. At the offer price, the company commands a market value of $138 million (LTM P/E of 7.9x).

NANPING, China, Oct. 25, 2019 /PRNewswire/ -- Happiness Biotech Group Limited (the "Company"), an innovative China-based nutraceutical and dietary supplements producer, announced today the pricing of a U.S. underwritten initial public offering ("Offering") of 2,000,000 ordinary shares at a price to the public of $5.50 per share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on October 25, 2019 under the ticker symbol "HAPP."

NEW YORK, April 10 (Xinhua) -- U.S.-China partnership in the biotech sector is promising and will benefit both patients and investors in the two countries, said U.S. biotech firms and investors.