Cango (CANG) IPO Opens 14% Higher

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Go back to Cango (CANG) IPO Opens 14% Higher

Cango Inc. Announces Pricing of Initial Public Offering

July 26, 2018 8:10 AM EDT

SHANGHAI, July 26, 2018 /PRNewswire/ -- Cango Inc. ("Cango" or the "Company") (NYSE: CANG), a leading automotive transaction service platform in China, today announced the pricing of its initial public offering of 4,000,000 American depositary shares ("ADSs"), each representing two of its Class A ordinary shares, at a price to the public of US$11.00 per ADS for a total base offering size of US$44 million. In addition, Cango has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an additional 600,000 ADSs to... More