36Kr Holdings (KRKR) IPO Opens 13% Lower

Today's IPO for 36Kr Holdings Inc. (NASDAQ: KRKR) opened for trading at $12.58 after pricing 1,380,000 American depositary shares (“ADSs”) at US$14.50 per ADS.

The Company has granted to the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 207,000 additional ADSs at the initial public offering price.

Credit Suisse Securities (USA) LLC, China International Capital Corporation Hong Kong Securities Limited and AMTD Global Markets Limited are acting as joint bookrunners of this offering. Needham & Company, LLC and Tiger Brokers (NZ) Limited are acting as co-managers.

36Kr Holdings Inc. is a prominent brand and a pioneering platform dedicated to serving New Economy participants in China with the mission of empowering New Economy participants to achieve more. The Company started its business with high-quality New Economy-focused content offerings, covering a variety of industries in China’s New Economy with diverse distribution channels. Leveraging traffic brought by high-quality content, the Company has expanded its offerings to business services, including online advertising services, enterprise value-added services and subscription services to address the evolving needs of New Economy companies and upgrading needs of traditional companies. The Company is supported by comprehensive database and strong data analytics capabilities. Through diverse service offerings and the significant brand influence, the Company is well-positioned to continuously capture the high growth potentials of China’s New Economy.

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