Uxin Limited (UXIN) IPO Opens 16% Higher
Get Alerts UXIN Hot Sheet
Join SI Premium – FREE
Today's IPO for Uxin Limited (NASDAQ: UXIN) opened for trading at $10.40 after pricing 25 million American depositary shares (“ADSs”), each representing three ordinary shares, at a price to the public of $9 per ADS. Concurrent with the private placement of $175 million of convertible bonds, the total amount raised is $400 million, assuming the underwriters do not exercise their option to purchase additional ADSs. Uxin has granted the underwriters a 30-day option to purchase up to an additional 3.75 million ADSs to cover over-allotments.
Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Limited, and China Renaissance Securities (Hong Kong) Limited are acting as joint book-running managers of this offering and as the representatives of the underwriters.
Uxin (NASDAQ: UXIN) is the largest used car e-commerce platform in China by number of transactions and gross merchandise volume. Uxin’s mission is to enable people to buy the car of their choice, no matter where they are located in China. Uxin allows consumers and dealers to buy and sell cars through an innovative integrated online and offline platform that addresses each step of the transaction and covers the entire value chain, including discovery, car inspection, title transfer, warranty, financing and insurance. Its services are underpinned by advanced proprietary technology; extensive data on buyers, sellers, vehicles and transactions; a highly scalable online platform; and an offline network of more than 670 service centers and 7 transaction centers in over 270 cities throughout China.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Rubrik, Inc. (RBRK) IPO Opens at $38.60, Priced at $32
- Neo-Concept International Group Holdings (NCI) Prices 2.32M Share IPO at $4/sh
- GXO Logistics, Inc. (GXO) Prices $1.1B Notes Offering
Create E-mail Alert Related Categories
IPOsRelated Entities
JPMorgan, Goldman Sachs, Morgan Stanley, IPOSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!