Ryde Group Ltd

Ryde Group Ltd (RYDE) priced its initial public offering on Mar 7, 2024 at $4.00 per share, raising $12M, and listed on NYSE American. At the IPO price its market capitalization was about $62.3M. Maxim Group was lead-left underwriter. Sidley Austin, Harneys and Rajah & Tann advised the company and Ortoli Rosenstadt advised the underwriters.

Ryde Group Ltd runs a ride-hailing and carpooling app in Singapore, where it holds Point-to-Point licences granted in October 2020. Its platform connects passengers with licensed driver partners, including taxi drivers from a partner transport company.

Status

IPO

Ticker

RYDE

Exchange

NYSE American

Priced

Mar 7, 2024

IPO price

$4.00

Raised

$12M

Market cap at IPO price

$62.3M

First filed

Aug 31, 2023

Underwriters

Maxim Group

Company counsel

Sidley Austin, Harneys and Rajah & Tann

Underwriters' counsel

Ortoli Rosenstadt

Sector

Business services

Country / state

Singapore

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