BingEx Limited Sets IPO for 4 Million Shares at $16.50 Each
BingEx Limited Announces Initial Public Offering
BingEx Limited (NASDAQ: FLX) is excited to share that it has successfully priced its initial public offering (IPO). The company has set the price at US$16.50 for each American Depositary Share (ADS), which represents three Class A ordinary shares of the company. Through this offering, BingEx expects to raise approximately US$66.0 million in gross proceeds, prior to any deductions for underwriting discounts and other expenses related to the offering.
Details of the Offering
The offering consists of a total of 4,000,000 ADSs. In addition to this, BingEx has granted its underwriters a 30-day option to acquire up to an additional 600,000 ADSs, at the same initial public offering price. This helps provide the underwriters with additional flexibility, allowing them to potentially meet excess demand.
Trading Information and Closing Timeline
Following approval, the ADSs are set to begin trading on the Nasdaq Stock Market under the symbol “FLX.” The anticipated closing date for the offering is scheduled for a date this year, provided traditional closing conditions are met. This exciting development marks a significant milestone for BingEx as it moves toward expanded investor access.
Involvement of Underwriters
Leading the underwriting process, Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited serve as representatives for the underwriters involved in the offering. Their expertise and backing are crucial for guiding BingEx through this process, ensuring everything proceeds smoothly.
Regulatory Compliance
All necessary regulatory steps have been accomplished, including the filing of a registration statement which has been declared effective by the United States Securities and Exchange Commission (SEC). This ensures that all required disclosures have been made, allowing investors the transparency necessary for informed decisions.
Contact Information for Investors
As part of the offering process, interested parties may obtain copies of the final prospectus whenever it becomes available. Inquiries can be directed to the following underwriters:
1. Deutsche Bank Securities Inc., located at 1 Columbus Circle, New York, New York 10019. For assistance, you can call +1-800-503-4611 or reach out via email at prospectus.cpdg@db.com.
2. China International Capital Corporation Hong Kong Securities Limited, situated at 29/F, One International Finance Centre, 1 Harbour View Street, Central, Hong Kong. They can be contacted at +852-2872-2000 or by emailing ECM_Bolt2021@cicc.com.cn.
3. CLSA Limited, located on the 18/F, One Pacific Place, 88 Queensway, Hong Kong. For any questions, you can call +852 2600 8888 or email ProjectBolt@clsa.com.
Frequently Asked Questions
What is the price of the ADS for the BingEx IPO?
The initial public offering price for the ADS is set at US$16.50 each.
How many shares is BingEx offering?
BingEx is offering a total of 4,000,000 American Depositary Shares (ADSs).
What is the total expected gross proceeds from the offering?
The offering is expected to gross about US$66.0 million, before deductions.
When will the ADS begin trading?
The ADSs are expected to start trading on the Nasdaq Stock Market shortly after the offering is finalized.
Who are the underwriters for the IPO?
The underwriters for this offering include Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited.
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