China Trucking Startup Said to Raise $1.6 Billion in U.S. IPO
- Trucking firm to sell American depositary shares at $19 each
- Full Truck Alliance marketed shares in $17-$19 range apiece
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Full Truck Alliance Co., an Uber-like trucking startup, has raised about $1.6 billion after pricing shares in its U.S. initial public offering at the top of a marketed range, according to people with knowledge of the matter.
The company has priced 82.5 million American depositary shares at $19 each, the people said, asking not to be identified as the information is private. Full Truck Alliance had been marketing 82.5 million ADSs at $17 to $19 apiece. One ADS represents 20 ordinary shares.