Fangdd Network Group Ltd.

Fangdd Network Group Ltd. (DUO) priced its initial public offering on Nov 1, 2019 at $13.00 per share, raising $78M, and listed on Nasdaq Global Market. At the IPO price its market capitalization was about $15.48B. Morgan Stanley was lead-left underwriter, joined by UBS, CICC and AMTD. Cooley, Maples and Calder and Global Law Office advised the company and Cleary Gottlieb and Tian Yuan advised the underwriters.

Fangdd Network Group Ltd. is a Chinese PropTech company operating an online real estate marketplace for agents, with more than 911,000 of the roughly 2.0 million agents in China on its platform at the end of 2018. One subsidiary is a licensed online small loan company.

Status

IPO

Ticker

DUO

Exchange

Nasdaq Global Market

Priced

Nov 1, 2019

IPO price

$13.00

Raised

$78M

Market cap at IPO price

$15.48B

First filed

Oct 8, 2019

Underwriters

Morgan Stanley, UBS, CICC and AMTD

Company counsel

Cooley, Maples and Calder and Global Law Office

Underwriters' counsel

Cleary Gottlieb and Tian Yuan

Sector

Real estate & finance

Country / state

China

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