The Housing Department has determined in the supplementary document that the initial public offering price range will be set at $13.00 to $15.00.
Editor’s note: This article is from Tencent Technology, compiled Ming Xuan.
The House submitted a prospectus No. 1 TO FORM F-1 to the US Securities and Exchange Commission (SEC) on Wednesday to prepare the issue price range and circulation for the initial public offering in the United States. In addition, information published by the US IPO research company IPOBoutique.com shows that the house will be listed on the Nasdaq Stock Exchange on November 1st with the stock code “DUO”.
The room has determined in the supplementary document that the initial public offering price range will be set at $13.00 to $15.00. The company will issue 175 million Class A common shares in an initial public offering, equivalent to 7 million American depositary receipts. Based on the highest issue price, including the underwriters’ execution of the over-allotment, the room will be raised up to $12.075 million before deducting various fees and commissions. A large number of American depositary receipts per share is equivalent to 25 shares of Class A common stock.
A lot of prospectus shows that the funds raised by the company will be used primarily to enhance research and development capabilities, invest in technology, sales, marketing and branding, working capital, and include potential for complementary businesses, assets and technology. Other general corporate uses such as investments and acquisitions. Investment banks Morgan Stanley, Citigroup, UBS, CICC and Hong Kong Shangda Group (AMTD) will act as joint underwriters for the initial public offering of the company.
The house will use a dual shareholding structure. The company will adopt a dual shareholding structure. A large number of Class A and Class B common stocks differ only in conversion rights and voting rights. Class A common shares may not be converted into B ordinary shares; Class B ordinary shares may be converted into Class A ordinary shares. Each class A common share contains 1 share of voting rights, and Class B common shares include 10 shares of voting rights.
Four more co-founders: Fang Duodu Chairman and CEO Duan Yi, Director and Chief Operating Officer Zeng Xi, Director and Chief Technology Officer Li Jiancheng will hold all of the company’s Class B common stock, first publicly After the offering, it accounted for 83.6% of the company’s voting rights.
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