BingEx Limited Successfully Prices Initial Public Offering
Initial Public Offering Pricing by BingEx Limited
BingEx Limited (“BingEx” or the “Company”) (Nasdaq: FLX), a prominent on-demand dedicated courier services provider in China, has made significant strides with the pricing of its initial public offering. This IPO involves 4,000,000 American Depositary Shares (ADSs), where each ADS reflects three Class A ordinary shares of the Company, set at a price of $16.50 per ADS. The estimated gross proceeds from this offering are around $66 million, prior to any deductions for underwriting discounts and other expenses associated with the offering.
Trading and Underwriter Details
The ADSs are expected to be listed on the Nasdaq Stock Market under the ticker symbol “FLX”. Trading is anticipated to commence shortly, with the closing of the offering projected on October 7, 2024, pending customary closing conditions. The leading representatives of the underwriters for this offering include Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited.
Registration and Offer Details
A registration statement concerning these securities has been submitted and approved by the United States Securities and Exchange Commission (SEC). It is important to note that this notice is not intended as an offer to sell or solicit purchases for these securities. Furthermore, sales of these shares cannot occur in jurisdictions where such an offer would be considered illegal without the required registration or qualification.
How to Obtain Prospectus Information
The offering documentation will be available solely through a prospectus that is part of the final registration statement. Interested parties can reach out to the underwriters directly for copies of the prospectus. The contact information for each underwriter includes Deutsche Bank Securities Inc. in New York, China International Capital Corporation in Hong Kong, and CLSA Limited, also in Hong Kong.
Company Overview and Sector Commitment
BingEx Limited (Nasdaq: FLX) stands as a trailblazer in China’s courier delivery sector. Renowned for its service branded as “FlashEx,” the Company offers on-demand dedicated courier services for both individual and business customers with a focus on timely and secure delivery options. The mission of BingEx revolves around improving customers' everyday lives through exceptional service delivery, establishing a renowned reputation for quality and reliability in the marketplace.
Investor Relations and Contact Information
For any inquiries related to investor relations, BingEx Limited can be contacted via email. The dedicated team is committed to providing insightful assistance regarding any investor concerns or queries. Moreover, for further information related to its services, the Company invites individuals to connect via their specified communication channels.
Frequently Asked Questions
What is the purpose of BingEx's IPO?
The IPO aims to raise capital to support BingEx’s growth and expand its on-demand courier services.
How many shares are being offered in the IPO?
BingEx Limited is offering 4,000,000 American Depositary Shares (ADSs) in the initial public offering.
When is the expected trading date for the shares?
The shares are anticipated to begin trading shortly following the pricing announcement, with the expectation of closing the offering on October 7.
Who are the underwriters for this offering?
The underwriters include Deutsche Bank Securities Inc., China International Capital Corporation, and CLSA Limited.
What is the significance of the ticker symbol “FLX”?
The ticker symbol “FLX” will be used for BingEx Limited's American Depositary Shares on the Nasdaq Stock Market.
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