Chinese tech firm 36Kr Holdings falls in U.S. market debut
11/11/2019 16:33
** Shares of Chinese tech media site KRKR.O tumble 13.2%
in its U.S. debut
** Stock opened at $12.58/ADS vs IPO price of $14.50/ADS,
giving it a market cap of $11.79 bln
** Drop as much as 22.4% to $11.25 in early trade
** KRKR sold 1.4 mln American depositary shares (ADS) at
$14.50/ADS, for gross proceeds of $20 mln urn:newsml:reuters.com:*:nGNX1qyglJ
** Underwriters have the option to buy an additional 207,000
ADSs
** 36Kr provides clients with new economy-focused business
services, including online advertising services, enterprise
value-added services and subscription services
** Credit Suisse leads the book-runners to the IPO
(Reporting by C Nivedita in Bengaluru)
((C.Nivedita@thomsonreuters.com))