Tuya Prices $915M IPO At $21/Share, Trading Starts Today

Chinese IoT cloud platform Tuya Inc (NYSE:TUYA) priced 43.59 million American depositary shares (ADSs) at $21 per ADS in its initial public offering (IPO) to raise $915.4 million.

• Each ADS represented one share of the company. The ADSs are expected to begin trading on the NYSE today under the ticker symbol "TUYA."
• The company granted the underwriters a 30-day option to purchase up to an additional 6.538 million ADSs.
• The offering is expected to close on March 22, 2021.
• Morgan Stanley, BofA Securities, China International Capital, Hong Kong Securities are the joint bookrunners of the offering. Tiger Brokers (NZ) Limited and CMB International Capital Limited are the co-managers of the offering.