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.
China s Full Truck Alliance says it is aiming for over $20b valuation in US IPO
dealstreetasia.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from dealstreetasia.com Daily Mail and Mail on Sunday newspapers.
Mubadala to invest $100m in a Chinese on-demand trucking startup before IPO
arabnews.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from arabnews.com Daily Mail and Mail on Sunday newspapers.
Operator
Good day, and welcome to the EFSC Earnings Conference Call. Today s conference is being recorded. At this time, I would like to turn the conference over to Jim Lally. Please go ahead, sir.
James B. Lally
President & Chief Executive Officer
Todd, thank you, and good morning. I welcome everyone to our call, and I appreciate all of you taking time to listen in. Joining me this morning is Keene Turner, our company s Chief Financial Officer and Chief Operating Officer; Scott Goodman, President of Enterprise Bank & Trust; and Doug Bauche, Chief Credit Officer.
Yesterday, we issued a press release announcing the acquisition of First Choice Bancorp. On the call today, we will briefly comment on our first quarter earnings and then discuss the acquisition announcement.
Enterprise to buy First Choice in California for $398 million
americanbanker.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from americanbanker.com Daily Mail and Mail on Sunday newspapers.