"Pinduoduo, which operates an e-commerce marketplace centered on group buying in China, raised $1.6 billion by offering 85.6 million ADSs at $19, the high end of the $16 to $19 range. Insiders indicated an interest in purchasing up to $500 million (31% of deal size) on the IPO.

Pinduoduo’s $1.6 billion deal is the year’s fourth-largest US IPO, and the second largest from a Chinese company behind iQIYI (IQ), which dropped 14% on the day of its offering, but is now 86% above the offer price. By market cap ($24 billion), Pinduoduo is the year’s largest company to IPO in the US.

Despite a recent pullback after trade tensions, Chinese IPOs have maintained their strong performance. Pinduoduo plans to list on the Nasdaq under the symbol PDD. Credit Suisse, Goldman Sachs (Asia), CICC and China Renaissance acted as lead managers on the deal."

Just an FYI. Stock is up 33% today.


This is a growth stock? Financials?


I broke down some of the pros (growth) and cons (quality control issues) on NPI for those interested. There was some light discussion, but should serve as a round picture of your risk.

Prefer to keep these discussion off of Saul’s board as it is a Chinese stock.…

Further note, the stock hasn’t “gained 33% today”. The stock opened to the free market at 26.00. The IPO price for institutions was $19.

Just a Fool,
No Position Taken.