KUALA LUMPUR, June 28 (Bernama) -- Uxin Ltd, the largest used car e-commerce platform in China, has announced the pricing of its initial public offering (IPO) of 25 million American depositary shares (ADSs), each representing three ordinary shares, at a price to the public of US$9 (RM36.34) per ADS. (1US$ = RM4.04).
Concurrent with the private placement of US$175 million (RM706.73 million) of convertible bonds, the total amount raised is US$400 million (RM1.62 billion), assuming the underwriters do not exercise their option to purchase additional ADSs.
Uxin has granted the underwriters a 30-day option to purchase up to an additional 3.75 million ADSs to cover over-allotments, a statement said.
The ADSs are expected to begin trading on the NASDAQ Stock Market on June 27 under the ticker symbol 'UXIN.' The offering is expected to close on July 2, subject to customary closing conditions.
Morgan Stanley & Co. International plc, Goldman Sachs (Asia) L.L.C., J.P. Morgan Securities LLC, China International Capital Corporation Hong Kong Securities Ltd, and China Renaissance Securities (Hong Kong) Ltd are acting as joint book-running managers of the offering and as the representatives of the underwriters.
-- BERNAMA
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