China's UCloud raises $283m in first dual-class IPO in mainland

China's UCloud raises $283m in first dual-class IPO in mainland

Chinese cloud services provider UCloud Technology raises about 1.944 billion yuan ($283 million) in an initial public offering (IPO) on the STAR Market on January 20, 2020. Source: BAI Capital WeChat account

Chinese cloud services provider UCloud Technology has raised about 1.944 billion yuan ($284 million) in an initial public offering (IPO) on the STAR Market on Monday, becoming the first company with a dual-class share structure to float shares in the mainland.