BingEx Prices IPO Of 4 Mln ADS At $16.50 Per ADS

(RTTNews) - BingEx Limited (FLX), a provider courier services in China, Friday priced its initial public offering of 4 million American Depositary Shares (ADSs) at $16.50 per ADS.

Each ADS represents three Class A shares of the company.

Gross proceeds from the offering, which is expected to close on October 7, is estimated at $66 million.

The ADSs are expected to start trading on the Nasdaq today under symbol FLX.

Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited are acting as the representatives of the underwriters.