KE Holdings Inc. (BEKE) Prices 106M ADS IPO at $20/ADS

KE Holdings Inc. (NYSE: BEKE) today announced the pricing of its initial public offering of 106,000,000 American Depositary Shares (“ADSs”), each representing three Class A ordinary shares of the Company, at a price to the public of US$20.00 per ADS for a total offering size of US$2.12 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange today under the symbol "BEKE." The offering is expected to close on August 17, 2020, subject to customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 15,900,000 additional ADSs.

Goldman Sachs (Asia) L.L.C., Morgan Stanley & Co. LLC, China Renaissance Securities (Hong Kong) Limited, J.P. Morgan Securities LLC, and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners of this offering. UBS Securities LLC, CLSA Limited, Credit Suisse Securities (USA) LLC, and CMB International Capital Limited are co-managers for the offering.

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