SPY317.59+3.21 1.02%
DIA260.82+3.58 1.39%
IXIC10,617.44+69.69 0.66%

Agora Sees 17.5M ADS IPO Priced $16-$18/ADS

Agora, Inc. (NASDAQ: API), a real-time engagement API provider, today announced the launch of an initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora.

Benzinga · -
Agora, Inc. (NASDAQ: API), a real-time engagement API provider, today announced the launch of an initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora. Agora also intends to grant the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover over allotments. The initial public offering price is expected to be between $16.00 and $18.00 per ADS. Agora has applied to list its ADSs representing Class A ordinary shares on the Nasdaq Global Select Market under the ticker symbol "API." Morgan Stanley and BofA Securities will act as the lead bookrunning managers for the proposed offering. Needham & Company will act as co-manager for the proposed offering.