Phoenix Tree Holdings Ltd. (DNK) plans to raise $164 million in an initial public offering on Friday, January 17th, IPO Scoop reports. The company will be issuing 10,600,000 shares at a price of $14.50-$16.50 per share.
In the last 12 months, Phoenix Tree Holdings Ltd. generated $864 million in revenue and had a net loss of $442.4 million. Phoenix Tree Holdings Ltd. has a market-cap of $2.8 billion.
Citigroup, Credit Suisse and J.P. Morgan served as the underwriters for the IPO and Tiger Brokers was co-manager.
Phoenix Tree Holdings Ltd. provided the following description of their company for its IPO: ” We are redefining the residential rental market through technology. We started Danke in 2015 to provide young people with comfortable yet affordable homes. Today, we are one of the largest co-living platforms in China with the fastest growth, according to iResearch. We established operations in 13 cities in China as of September 30, 2019 and have become a major player in each of the 10 cities that we entered into prior to June 30, 2019. We grew the number of apartment units we operated from 2,434 as of December 31, 2015 to 406,746 as of September 30, 2019, a 166-fold increase over less than four years. “.
Phoenix Tree Holdings Ltd. was founded in 2015 and has 5205 employees. The company is located at Room 212, Chao Yang Shou Fu, 8 Chao Yang Men Nei Street, Dongcheng District, Beijing, People’s Republic of China and can be reached via phone at +86-10-5717-6925. or on the web at http://www.danke.com.
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