SoftBank-backed Beike shares surge in NY debut after raising $2.12b in IPO

SoftBank-backed Beike shares surge in NY debut after raising $2.12b in IPO

Zuo Hui, chairman of Beijing-based real-estate brokerage platform Beike Zhaofang. Source: Beike Zhaofang official Weibo account

Shares of SoftBank-backed KE Holdings Inc jumped 75% in their New York debut on Thursday, after the Chinese online real estate broker raised $2.12 billion in its initial public offering that was priced above its earlier target range.

Shares of KE, also known as Beike Zhaofang, opened at $35.06 per American depositary share (ADS), compared to its IPO price of $20 per ADS.

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