Ninebot sets price for China’s first CDR listing

By Addison Gong
16 Oct 2020

Xiaomi Corp-backed electric scooter maker Ninebot has set the issue price for its Rmb2.08bn ($309m) IPO on Shanghai’s Star market, the first offering of depository receipts in China.

Ninebot, officially called Segway-Ninebot, will sell up to 70.41m Chinese depositary receipts (CDRs) on Star at Rmb18.94 each. Both institutional and retail investors are scheduled to subscribe to the stock next Monday. The institutional and retail split will be around 80/20 before the clawback.

The Cayman Islands-incorporated ...

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