FX.co ★ BingEx Prices IPO Of 4 Mln ADS At $16.50 Per ADS

BingEx Limited (FLX), a prominent provider of courier services in China, announced on Friday the pricing of its initial public offering (IPO) of 4 million American Depositary Shares (ADSs) at a rate of $16.50 per ADS. Each ADS equates to three Class A shares of BingEx. The offering is projected to generate gross proceeds of approximately $66 million and is scheduled to close on October 7. Trading of the ADSs on the Nasdaq is set to commence today under the ticker symbol FLX. Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited are serving as the lead underwriters for this offering.