Pinduoduo bags $1.6bn as other tech IPOs stutter

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By John Loh
26 Jul 2018

Pinduoduo, one of China’s hottest technology start-ups, sealed its $1.6bn IPO at the top end as expected, but not all American Depository Share (ADS) listings were so lucky this week as investors remained on edge.

The e-commerce firm sold 85.6m primary ADSs at the ceiling of a $16 to $19 marketing range, and will start trading on the Nasdaq on Thursday.

China Renaissance, CICC, Credit Suisse and Goldman Sachs brought Sequoia Capital ...

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