Pinduoduo (PDD) IPO Opens 39% Higher
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Pinduoduo Announces Pricing of Initial Public Offering
July 26, 2018 9:14 AM EDTSHANGHAI, July 26, 2018 (GLOBE NEWSWIRE) -- Pinduoduo Inc. ("Pinduoduo" or the "Company") (NASDAQ: PDD), an innovative and fast growing new e-commerce platform and one of the leading Chinese e-commerce players, today announced the pricing of 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 for a total offering size of US$1.63 billion, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs, each representing four Class A ordinary shares of the Company, have been approved for... More
