You are using an older browser version. Please use a supported version for the best MSN experience.

China-based Molecular Data prices IPO to raise $62 million

MarketWatch logo MarketWatch 12/30/2019 Tomi Kilgore
MARKET PULSE

Molecular Data Inc. (mkd) said Monday that its initial public offering of American depositary shares (ADS) priced at $5.38 per ADS, as the China-based e-commerce platform for the chemical industry raised $61.87 million. The company offered 11.5 million ADS in the IPO, representing 34.5 million Class A ordinary shares. If the underwriters of the offering exercise all the options granted to buy additional shares, the company could raise $71.15 million. The lead underwriters were AMTD, Fosun Hani and Boustead Securities. The company had recorded a net loss of RMB254.6 million ($35.6 million) on revenue of RMB9.05 billion in 2018, after a loss of RMB107.8 million on revenue of RMB4.20 billion in 2017. The company is going public at a time that Renaissance IPO ETF (ipo) has climbed 10.6% over the past three months and the S&P 500 (spx) has gained 8.8%.

AdChoices
AdChoices

More from Marketwatch

image beaconimage beaconimage beacon