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17 Education & Technology IPO: 9 Things to Know About Newly Public YQ Stock

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.

children boarding a school bus, representing Education Stocks to Buy

Source: Shutterstock

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.

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