17 Education & Technology (NASDAQ:YQ) stock is catching the interest of investors on Wednesday after successfully completing its initial public offering (IPO) late last year.
Shares of YQ stock are up today as it experiences heavy trading from investors. As of this writing, more than 6 million shares have changed hands. To put that in perspective, the stock’s daily average trading volume is 2.85 million shares.
It’s important for investors to know more about a company before investing in it. With that in mind, here’s a quick breakdown of 17 Education & Technology for investors interested in YQ stock.
- 17 Education & Technology is an education technology company based out of China.
- It offers a learning model to teachers, students, and parents that focuses on both in-classroom and after school performance.
- During the first half of 2020, the company covered more than 70,000 K through 12 schools.
- 17 Education & Technology’s recent IPO saw it offer up 27,400,000 American Depositary Shares of its stock for $10.50 each.
- Each of these ADSs represents 2.5 Class A ordinary shares of the company.
- The offering took place between Dec. 4 and Dec. 8.
- It also included an option for underwriters to purchase an additional 4.11 million ADS at the IPO price.
- This had 17 Education & Technology expecting to raise between $287.7 million and $330.9 million from the IPO.
- Morgan Stanley, Goldman Sachs (Asia), and BofA Securities were joint book-runners for the offering.
YQ stock was up 30.8% as of noon Wednesday.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.
