Daniel McClory

Daniel McClory

Irvine-based Boustead Securities LLC raised $61.9 million for a Chinese technology company to trade on the Nasdaq.

Molecular Data Inc., a Shanghai-based company that calls itself “a leading technology platform” in the Chinese chemical industry, priced 11.5 million American depositary shares at $5.38 each. The ADS shares, which began trading today under the “MKD” ticker on Nasdaq, rose 17% on volume of 2.7 million.

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Boustead acted jointly as an underwriter with AMTD Global Markets Ltd and Fosun Hani Securities Ltd.

Boustead Managing Director Daniel McClory is the majority owner along with Keith Moore, a former top executive at gaming giant Activision Inc. Boustead typically raises $10 million to $50 million for its clients.