Freddie is listed on NASDAQ at US $13 per share

 Freddie is listed on NASDAQ at US $13 per share

Netease science and technology news on November 1, online real estate trading platform Fang Duoduo (NASDAQ: Duo) landed on NASDAQ. This time, Fang Duoduo issued 6 million ADSS at a price of US $13 per share, raising US $78 million.

As of this mornings close, Freddies share price closed at $13, the same as the issue price. At closing prices, Freddies market value is $955 million.

On October 24, Fang duo submitted an updated prospectus to the securities and Exchange Commission (SEC), which shows that it will issue 7 million ADSS, each representing 25 class a common shares, with an issue price of between $13 and $15, and will receive a net income of about $86.5 million from this issue.

According to the prospectus, the main sources of income of fanduo are the basic commission income of the transaction, the income of innovation plan and other value-added services. According to the latest prospectus, as of June 30, 2019, in the first six months, fanduos revenue was 1.604 billion yuan, an increase of about 55.36% year on year. In 2016, 2017 and 2018, the annual revenue was 1.476 billion yuan, 1.799 billion yuan and 2.282 billion yuan respectively.

For the six months ended June 30, 2019, fanduos net income was rmb103 million, up 166.6% from rmb37.6 million in the same period last year.

Source: responsible editor of Netease technology report: Yao Liwei, nt6056