New York Stock Exchange

China’s Mobile Internet Firm Cootek Inc Listed on the NYSE for IPO

29Sep By Gauri SinghNo Comments

Market

China’s Mobile Internet Firm Cootek Inc Listed on the NYSE for IPO

China’s mobile internet company CooTek (Cayman) Inc has been now listed on the New York Stock Exchange (NYSE). The company that is based in East China's Shanghai started trading on Friday. The company issued 4.35 million American Depository Shares (ADS) and raised $52.2 million. Every ADS of CooTek was priced at $12. The share price of CooTek was traded lower than its opening price of $11.5 in the first four trading hours of the first trading session. The funds secured through this initial public offering are planned to be utilized by the company in the marketing of the products. CooTek generally earns its revenue from the advertisement with its software product TouchPal Keyboard and other APPs on fitness and healthcare. The main motive of the company behind its entry on the NYSE ...

China’s English Learning Platform LAIX Debuts on NYSE

28Sep By Gauri SinghNo Comments

Market

China’s English Learning Platform LAIX Debuts on NYSE

China’s AI-based English learning platform LAIX Inc has debuted on the New York Stock Exchange (NYSE) with its initial public offering (IPO), trading under the ticker symbol of "LAIX." The company priced its initial public offering of 5,750,000 American depositary shares (ADSs) at $12.50 per ADS. The total offering size was roughly $71.9 million. Along with this, LAIX has granted the underwriters an over-allotment option, exercisable within 30 days. "Listing on the NYSE will make LAIX a more international company, which can help us attract customers all over the world, as we believe our English learning platform driven by AI not only can serve Chinese English learners, but also can help English learners in other countries," said Yi Wang, chairman and chief executive officer of LAIX. ...

22Sep By Gauri SinghNo Comments

Market

All You Need to Know About US-based Eventbrite’s Much-awaited IPO

San-Francisco based online ticketing platform Eventbrite (EB) has finally launched its much-awaited IPO. The shares of the company soared as high as 70 percent in its stock market. The shares opened at $36 and climbed as high as $39.30 before ending the session 59 percent up at $36.50. Eventbrite’s stock has been listed on the New York Stock Exchange (NYSE) under the ticker EB. The firm at the initial stage priced its offering from $19 to $21 per share, but due to its high demand, it raised the final offering price to $23 per share. With this price, the company was successful in raising funds amounting to $230 million. Founded in 2006 by married couple Julia and Kevin Hartz, Eventbrite has raised a total of $373 million in equity funding as of now. The entry of Eventbrite in the stoc...

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

11Apr By Lavina TolaniNo Comments

Market

Jack Ma’s Ant Financial to Raise $9B Ahead of IPO, Become World’s Biggest Unicorn

Chinese billionaire Jack Ma's financial firm is all set to make it to the world's biggest companies. Alibaba Group Holding Ltd's derivate company, Ants Financial Group is preparing to raise $9 billion which is much above its expected IPO in a private funding round as per the sources. Being no stranger to funding, the company picked $4.5 billion Series B round in April 2016. Moreover, it has also made in some strategic acquisitions and investments to pave a way for greater financial benefits for itself. It has already acquired HelloPay and has made investments into Korea's Kakao Pay in February 2017. Company's recent attempt to acquire Moneygram early this year was knocked down by U.S government over security concerns.It's expected IPO valuation and newly earned revenue can give a muc...