Ryde Group Closes $12 Million IPO; Shares Rise-February 2024-www.financetom.com

Ryde Group Closes $12 Million IPO; Shares Rise

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Ryde Group Closes $12 Million IPO; Shares Rise

Mar 8, 2024 9:27 AM

12:08 PM EST, 03/08/2024 (MT Newswires) -- Ryde Group ( RYDE ) said Friday it closed its initial public offering of 3 million class A ordinary shares at $4 apiece to raise $12 million in gross proceeds.

The company's shares started trading on the New York Stock Exchange American on Wednesday.

Underwriters for the IPO have a 45-day option to buy an additional 450,000 ordinary shares to cover over-allotments, if any, Ryde said.

The company's shares were up 8.1% in recent trading Friday.

Price: 4.87, Change: +0.36, Percent Change: +8.11

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