Pinduoduo (PDD) IPO Opens 39% Higher

Today's IPO for Pinduoduo (NASDAQ: PDD) opened for trading at $26.50 after pricing its initial public offering of 85,600,000 American Depositary Shares ("ADSs") (equivalent of 342,400,000 Class A ordinary shares) at a price of US$19 per ADS.

Credit Suisse, Goldman Sachs, CICC and China Renaissance acted as joint bookrunners for the offering.

Pinduoduo is an innovative and fast growing “new e-commerce” platform that provides buyers with value-for-money merchandise and fun and interactive shopping experiences. The Pinduoduo mobile platform offers a comprehensive selection of attractively priced merchandise, featuring a dynamic social shopping experience that leverages social networks as an effective and efficient tool for buyer acquisition and engagement.

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