Youdao hits road with $101m New York IPO

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By Jonathan Breen
16 Oct 2019

Chinese online education platform Youdao has launched bookbuilding for its New York Stock Exchange listing, eyeing up to $100.8m from the deal.

Bookrunners Citi, Credit Suisse and Morgan Stanley began taking orders for the IPO on Tuesday in the US. CICC and HSBC have junior roles in the syndicate.

The issuer is offering 5.6m primary American Depository Shares (ADS) at $15 to $18 each, meaning it could raise anywhere from ...

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