Agora, Inc.

Agora, Inc. (API) priced its initial public offering on Jun 26, 2020 at $20.00 per ADS, raising $350M, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $1.98B. Morgan Stanley was lead-left underwriter, joined by BofA Securities and Needham. Wilson Sonsini, Maples and Calder and King & Wood Mallesons advised the company and Simpson Thacher and Fangda Partners advised the underwriters.

Agora, Inc. focuses on real-time video and voice engagement that application developers can embed in their own apps, such as education, gaming, dating and shopping applications. The excerpt says developers find such functions difficult and expensive to build because the public internet offers no service quality assurance.

Status

IPO

Ticker

API

Exchange

Nasdaq Global Select

Priced

Jun 26, 2020

IPO price

$20.00 per ADS

Raised

$350M

Market cap at IPO price

$1.98B

First filed

Jun 5, 2020

Underwriters

Morgan Stanley, BofA Securities and Needham

Company counsel

Wilson Sonsini, Maples and Calder and King & Wood Mallesons

Underwriters' counsel

Simpson Thacher and Fangda Partners

Sector

Technology

Country / state

CA

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.