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China s Full Truck Alliance targets over $20 billion valuation in U.S. IPO 06/15/2021 | 05:54pm EDT Send by mail : Message : Required fields (Reuters) -China s Full Truck Alliance Co Ltd (FTA) said on Tuesday it is aiming for a valuation of over $20 billion in its U.S. initial public offering, marking another high-profile Chinese stock market listing in New York this year. FTA, which styles itself as Uber for trucks and is more popularly referred to as Manbang in China, said it is offering 82.5 million American Depositary Shares (ADS) at between $17 and $19 per ADS. Each ADS represents 20 Class A ordinary shares. At the top end of the price range, FTA could raise as much as $1.57 billion from the IPO,which would make it the largest U.S. listing for a Chinese company this year, according to data provider Refinitiv. Chinese vaping firm RLX Technology Inc raised $1.4 billion in its U.S. IPO in January.

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