Citigroup Stock- China’s Full Truck Alliance targets over $20 bln valuation in U.S. IPO
June 15 (Reuters) – China’s Full Truck Alliance Co Ltd said on Tuesday it is aiming for a valuation of over $20 billion in its initial public offering in the United States.
The company, which styles itself as the “Uber for trucks”, said it is offering 82.5 million American Depositary Shares (ADSs) at a range between $17 and $19 per ADS. Each ADS represents 20 Class A ordinary shares.
The top end of that range would raise $1.57 billion for the company. Full Truck said it will list on the New York Stock Exchange under the symbol “YMM”.
Morgan Stanley, CICC, Goldman Sachs, UBS Investment Bank, Huatai Securities, Citigroup and Nomura are the underwriters for FTA’s offering.
(Reporting by Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
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