Pinduoduo Inc. (PDD) Prices 85.6M ADS IPO at $19/ADS

Pinduoduo (PDD) IPO Opens 39% Higher

July 26, 2018 11:00 AM EDT

Today's IPO for Pinduoduo (NASDAQ: PDD) opened for trading at $26.50 after pricing its initial public offering of 85,600,000 American Depositary Shares ("ADSs") (equivalent of 342,400,000 Class A ordinary shares) at a price of US$19 per ADS.

Credit Suisse, Goldman Sachs, CICC and China Renaissance acted... More

What bubble? China's record-breaking venture capitalists charge ahead

July 26, 2018 1:56 AM EDT

By Kane Wu and Julie Zhu

HONG KONG (Reuters) - China's venture capital scene has been on fire this year and a record-breaking run to unicorn status by a Chinese coffee startup suggests it is not cooling yet.

Luckin Coffee took just six months to reach a $1 billion "unicorn" valuation, a performance that is helping boost investor appetite for Chinese startups, even as they estimate that valuations are far outstripping U.S. ones.

This month at Hong Kong's RISE technology conference, a key stop on the Asian venture capital circuit, investors told Reuters that startups in... More

China's Pinduoduo prices U.S. IPO at top of range, raises $1.6 billion: sources

July 25, 2018 9:33 PM EDT

By Fiona Lau and Julie Zhu

HONG KONG (Reuters/IFR) - Chinese online group discounter Pinduoduo Inc (NYSE: PDD) priced its U.S. initial public offering (IPO) at $19 per American depositary share (ADS), raising $1.63 billion in the second-biggest U.S. float by a Chinese firm this year, according to three people familiar with the situation.

The pricing values money-losing Pinduoduo - which counts Chinese internet giant Tencent Holdings Ltd as a main backer - at $23.8 billion including all outstanding share options, compared with a valuation of $15 billion following a funding round in... More