附近上门

Yesterday, Chinese used car sales platform went public. The company鈥檚 debut, however, wasn鈥檛 perfect: The firm priced its shares at $9 apiece, under its expected $10.50 to $12.50 range.

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At that price, Uxin raised $225 million by selling 25 million shares in its flotation. In calculating Uxin鈥檚 valuation, the company鈥檚 filing lists the 鈥渙rdinary shares outstanding immediately after this offering鈥� as 877,180,394. The filing also states 鈥淸e]ach ADS represents three Class A ordinary shares, par value US$0.0001 per share.鈥� Taking that into consideration, the company鈥檚 loose valuation comes out to about $2.63 billion by our math, which matches .

The company鈥檚 equity trading at $10.40 yesterday before closing at $9.67. At that closing price, the firm鈥檚 shares wrapped their first day of trading up 7.4 percent.

At the time of writing firm is up around a point in regular trading.

The company鈥檚 disappointing IPO pricing, and relatively slack first day performance is in line with other China-based and domestic IPOs that have listed on the US exchanges. Among them, wearables-focused company Huami, which went public in February, priced at the middle of its expected range and ended its first day up 2.27 percent.

Uxin鈥檚 second day of trading begins as U.S. based insurance marketplace above its expected range at $18, raising $84 million in its own Nasdaq IPO. The company opened trading today up 14.4 percent at $20.59.

The public markets have heated up in Q2, and this week was reportedly the . That鈥檚 good for us here at 附近上门 News where it comes as no surprise that we quite enjoy diving into the weeds of SEC filings.

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Editorial Note: Reporting contributed by Savannah Dowling and Celia Wan.聽