05:36 AM EDT, 10/02/2024 (MT Newswires) -- Fangdd Network ( DUO ) said Tuesday it struck an agreement to sell about 1.6 million class A ordinary shares at $1.55 apiece in a registered direct offering.

The Chinese property technology company said it intends to use the net proceeds for general corporate purposes.

The offering to certain investors is expected to close around Wednesday.

Shares of Fangdd soared 21% in premarket activity Wednesday after closing 9.4% higher on Tuesday.

Price: 4.12, Change: +0.71, Percent Change: +21.23