DJ Phoenix Tree Says IPO Prices at $13.50 an ADS
By Michael Dabaie
Phoenix Tree Holdings Ltd. (DNK) said Friday its initial public offering of 9.6 million American Depositary Shares priced at $13.50 an ADS.
The ADSs, representing ten Class A ordinary shares, will begin trading Friday on the New York Stock Exchange under the ticker symbol "DNK."
The Chinese residential rental company said it granted underwriters an option to purchase up to an aggregate of 1.4 million additional ADSs. The company said it expects total gross proceeds of the offering to be about $129.6 million if the underwriters do not exercise their option and about $149.0 million if the underwriters exercise their option to purchase additional ADSs in full.
Citigroup Global Markets Inc., Credit Suisse Securities (USA) LLC, and J.P. Morgan Securities LLC are acting as joint bookrunners of the offering.
Write to Michael Dabaie at michael.dabaie@wsj.com
(END) Dow Jones Newswires
January 17, 2020 07:21 ET (12:21 GMT)
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