Chinese courier firm BingEx (FlashEx) raises $66M through IPO, valuing the company at $1.2B.
Chinese courier firm BingEx, operating as FlashEx, has successfully raised $66 million through its initial public offering (IPO) by selling 4 million American Depositary Shares (ADS) at $16.50 each. This IPO values the company at nearly $1.2 billion and reflects a resurgence in investor confidence. BingEx, which commands a 33.9% share of China's independent on-demand courier market, will trade on Nasdaq under the ticker "FLX." The offering is set to close on October 7, 2024.
October 04, 2024
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