uCloudlink (UCL) IPO Opens 25% Higher

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Go back to uCloudlink (UCL) IPO Opens 25% Higher

UCLOUDLINK GROUP INC. Announces Pricing of Initial Public Offering

June 10, 2020 9:30 AM EDT

HONG KONG, June 10, 2020 (GLOBE NEWSWIRE) -- UCLOUDLINK GROUP INC. (UCLOUDLINK or the Company) (NASDAQ: UCL), the worlds first and leading mobile data traffic sharing marketplace, today announced that it has priced its initial public offering of 2,010,000 American depositary shares (ADSs), at US$18.00 per ADS for a total offering size of approximately US$36.2 million, assuming the underwriters do not exercise their over-allotment option to purchase any additional ADSs. Each ADS represents ten Class A ordinary shares of the Company. The ADSs are expected to begin trading on the Nasdaq Global Market today under the ticker... More