Tencent-backed Beike surges on NYSE debut after solid IPO reception, shrugging off ‘external noise’ amid frayed US-China relations

//Tencent-backed Beike surges on NYSE debut after solid IPO reception, shrugging off ‘external noise’ amid frayed US-China relations

Tencent-backed Beike surges on NYSE debut after solid IPO reception, shrugging off ‘external noise’ amid frayed US-China relations

KE Holdings’ shares almost doubled when they changed hands for the first time on the New York Stock Exchange as investors piled into the biggest initial public offering (IPO) by a Chinese company on a US bourse in more than two years.Its American depositary shares (ADS) fetched US$35.06 in opening trades, compared with its IPO price of US$20. This values China’s biggest online real estate transaction platform, better known at home as Beike Zhaofang, at just under US$40 billion, versus US$14…

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By | 2020-08-13T17:12:09+00:00 August 13th, 2020|Business|Comments Off on Tencent-backed Beike surges on NYSE debut after solid IPO reception, shrugging off ‘external noise’ amid frayed US-China relations