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BingEx (Nasdaq: FLX), a leading on-demand dedicated courier services provider in China, has announced the pricing of its initial public offering (IPO) of 4,000,000 American Depositary Shares (ADSs) at US$16.50 per ADS. Each ADS represents three Class A ordinary shares of the Company. The gross proceeds from the offering are expected to total US$66.0 million, excluding underwriting discounts and commissions.
BingEx has granted the underwriters a 30-day option to purchase up to 600,000 additional ADSs. The ADSs are set to begin trading on the Nasdaq Stock Market under the symbol 'FLX'. The offering is expected to close on October 7, 2024. Deutsche Bank Securities Inc., China International Capital Hong Kong Securities , and CLSA are acting as the representatives of the underwriters.
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