Onion Global Limited (OG) IPO Opens Sharply Higher
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(Updated - May 7, 2021 12:54 PM EDT)
Onion Global Limited (NYSE: OG) IPO opens at $11.21 after pricing 9,310,350 American depositary shares ("ADSs"), at US$7.25 per ADS.
AMTD Global Markets Limited and Huatai Securities (USA), Inc. are acting as the joint bookrunners of the offering and representatives of the underwriters.
Onion Global Limited (NYSE: OG) is a next-generation lifestyle brand platform that incubates, markets and distributes the world's fresh, fashionable and future brands ("3F brands") to young people in China and across Asia. Trusted by millions in Asia, Onion Global offers customers a wide selection of lifestyle goods and services that are appealing and unique, a one-stop convenience that enhances their online shopping experience by disrupting the conventional retail landscape in China. The Company has an extensive showcase of 4,001 brands from 86 brand partners on its global platform, and features 23 categories of lifestyle products, including beauty products, maternal and baby products, food and beverages, fast fashion and wellness products. As a leading retail and lifestyle brand platform, the Company offers an integrated solution for brand sourcing, omni-channel marketing, and technology-driven distribution channels that's been designed for new, inspiring and branded products to gain optimum exposure. Empowered by its proprietary technology and big data analytics, the Company identifies and sources from internationally well-known brands, as well as private label brands that represent the fast-changing trends favored by China's younger generations. Onion Global also facilitates millions of user interactions online to help brands build up their own user base, and connect with customers through the platform's influencers who actively promote and share their shopping experiences on social media. Onion Global aims to converge new retail concepts to reshape the lifestyle and consumer culture in China.
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