Flash Delivery (FLX, Financial) has successfully launched its initial public offering (IPO) on the U.S. stock market. The company's stock price increased by 0.85% to $16.64.

Flash Delivery (FLX) Raises $66 Million in U.S. IPO

China's BingEx notched a valuation of $1.17 billion in its Nasdaq debut on Friday, after shares of the courier delivery firm traded in line with its initial public offering price.

China's BingEx opens flat in Nasdaq debut

BEIJING, Oct. 04, 2024 (GLOBE NEWSWIRE) -- BingEx Limited (“BingEx” or the “Company”) (Nasdaq: FLX), a leading on-demand dedicated courier services provider in China (branded as “FlashEx”), today announced the pricing of its initial public offering of 4,000,000 American Depositary Shares ("ADSs"), each representing three Class A ordinary shares of the Company, at US$16.50 per ADS. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to total US$66.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. In addition, BingEx has granted the underwriters a 30-day option to purchase up to an aggregate of 600,000 additional ADSs at the initial public offering price less underwriting discounts and commissions.

BingEx Limited Announces Pricing of Initial Public Offering

Three IPOs each raised at least $100 million this week, in a welcome bump in activity. Four IPOs and two SPACs submitted initial filings this past week. Six IPOs are currently scheduled to list in the week ahead.

U.S. IPO Weekly Recap: 3 Sizable Deals Trade Up

BingEx Limited aims to raise $100 million in an IPO to expand its courier services in China. The company is producing a slower revenue growth rate but increasing gross profit and operating profit, with fluctuating cash flow from operations. BingEx faces intense competition in a fragmented market, with a focus on independent couriers and direct customer contact.

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