Pinduoduo and two other Chinese tech stocks to land in U.S. today

When the sun shines on the land of United States for a new day, the country’s stock exchanges will welcome three Chinese companies celebrating their IPOs: data solution firm Aurora Mobile Limited (NASDAQ: JG), price-for-value social retail platform Pingduoduo (NASDAQ: PDD), and Cango (NYSE: CANG), fintech solution provider for the car industry.

Aurora released its IPO details earlier today, confirming the offering of 9,060,000 American Depositary Shares (ADS) at $8.5 per share for a total size of $77 million. Aurora’s clients include Baidu, Tencent, Didi, and Bilibili.

Pinduoduo, boosted by 20-fold oversubscription and high market valuation, confirmed today to set the IPO price at $19 per ADS. The price hits the top of expected IPO price range, and will allow Pinduoduo to raise around $1.6 billion. The very positive feedback from Pinduoduo’s pre-IPO could have allowed it to raise the IPO price to $22.8 per ADS.

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