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Phoenix Tree goes below price range for $130m IPO

Chinese co-living platform Phoenix Tree priced its US listing below the initial marketed range and reduced the size of its IPO, raising $129.6m. Its stock had a volatile start to trading last Friday.

  • By Jonathan Breen
  • 20 Jan 2020

The syndicate, Citi, Credit Suisse, JP Morgan and Tiger Brokers, wrapped up the deal late last week in the US. The shares began trading on the New York Stock Exchange on Friday.

Phoenix Tree had launched its IPO on January 8, offering 10.6m American Depositary Shares (ADS) at ...

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