Youdao shares trading lower after IPO debut [MarketWatch]
Youdao, Inc. American Depositary Shares, each representing one Class A Ordinary Share (DAO)
Company Research
Source: MarketWatch
Youdao shares trading lower after IPO debut American depositary shares of Chinese education-technology Youdao Inc. DAO, -18.00% are falling Friday in their first day of trading. The shares opened at $13.50, below their IPO price of $17, and were recently trading near $14.15, which is 16.8% off from the listing price. The company raised $95.2 billion through the offering process , and Yaodao is raising a further $125 million through private placement of 7.35 million ordinary shares to certain funds managed by Orbis Investment Management Ltd. The offering comes as the Renaissance IPO ETF IPO, +1.64% has gained 25% on the year as as the S&P 500 SPX, +0.41% has shot up 21% in that time.
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News
- Youdao Filed 2023 Annual Report on Form 20-FPR Newswire
- China Adult Learning Market Growth and Trends - In-Depth Analysis and Forecast Up to 2029 [Yahoo! Finance]Yahoo! Finance
- China Adult Learning Market Growth and Trends - In-Depth Analysis and Forecast Up to 2029PR Newswire
- China Adult Learning Analysis Report 2024: Market to Surpass $195 Billion by 2029, Driven by Increasing Demand for Upskilling and Reskilling and Rise In Senior Adult Learning [Yahoo! Finance]Yahoo! Finance
- Youdao: Expecting A Better Year Ahead [Seeking Alpha]Seeking Alpha
DAO
Sec Filings
- 4/25/24 - Form 6-K
- 4/25/24 - Form 20-F
- 2/29/24 - Form 6-K
- DAO's page on the SEC website