Full Truck Alliance Co. Ltd. is set to go public Tuesday, the China-based digital freight platform that connects shippers with truckers raised $1.56 billion in its initial public offering. The company sold 82.5 million American depositary shares in the IPO, which priced at $19 per ADS, at the top of the expected range of between $17 and $19 per ADS. Each ADS represented 20 ordinary shares. With 21.73 billion ordinary shares outstanding, the IPO pricing values the company at about $20.64 billion. The stock is expected to start trading Tuesday on the NYSE under the ticker symbol "YMM."
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