Cloopen Group Holding Ltd

Cloopen Group Holding Ltd (RAAS) priced its initial public offering on Feb 9, 2021 at $16.00 per ADS, and listed on NYSE. At the IPO price its market capitalization was about $2.35B. Goldman Sachs was lead-left underwriter, joined by Citigroup, CICC and US Tiger. Wilson Sonsini, Maples and Calder and CM Law Firm advised the company and Skadden, Arps and Tian Yuan advised the underwriters.

Cloopen Group Holding Ltd provides cloud-based communications solutions in China, covering communications platform as a service, cloud-based contact centers, and cloud-based unified communications and collaboration. Its customers are enterprises of all sizes in sectors such as internet, telecommunications, financial services, education, manufacturing and energy.

Status

IPO

Ticker

RAAS

Exchange

NYSE

Priced

Feb 9, 2021

IPO price

$16.00 per ADS

Market cap at IPO price

$2.35B

First filed

Jan 19, 2021

Underwriters

Goldman Sachs, Citigroup, CICC and US Tiger

Company counsel

Wilson Sonsini, Maples and Calder and CM Law Firm

Underwriters' counsel

Skadden, Arps and Tian Yuan

Sector

Technology

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