BingEx Limited Sets Price for 4 Million Share IPO at $16.50 per Share

BingEx Limited (Nasdaq: FLX) has announced the pricing of its initial public offering, which will offer 4,000,000 American Depositary Shares (ADSs), each representing three Class A ordinary shares of the Company, at a price of $16.50 per ADS. The anticipated gross proceeds from the offering, prior to accounting for underwriting discounts and commissions and other expenses related to the offering, are expected to amount to $66.0 million, assuming the underwriters do not choose to exercise their option to acquire additional ADSs. Furthermore, the underwriters have been granted a 30-day option to purchase up to an additional 600,000 ADSs at the initial offering price, minus underwriting discounts and commissions.

The ADSs have been approved for listing and are expected to commence trading on the Nasdaq Stock Market under the symbol “FLX” today. The offering is slated to close on October 7, 2024, contingent upon meeting customary closing conditions.

Deutsche Bank Securities Inc., China International Capital Corporation Hong Kong Securities Limited, and CLSA Limited are serving as the representatives for the underwriters.

A registration statement related to these securities has been filed with and approved by the United States Securities and Exchange Commission (SEC). This announcement