Cleary Gottlieb represented Morgan Stanley, UBS, China International Capital Corp., and AMTD Global Markets, as underwriters, in the IPO of Fangdd Network Group Ltd. (Fangdd).
The IPO consisted of an offering of 6,500,179 American depositary shares (including overallotment option), each representing 25 Class A ordinary shares. The offering priced at $13 per ADS on October 31, 2019, and closed on November 5, 2019. The overallotment option was exercised on November 26, 2019, and the option closing was on November 29, 2019.
The ADSs are listed on the Nasdaq Global Market under the ticker symbol “DUO.”
Fangdd is a real estate technology company in China. Through innovative use of mobile internet, it is a pioneer of the property technology industry in China.