Cloopen, also known as Ronglian and Yuntongxun, priced its shares at $16 to raise $320m in an initial public offering that provided an exit for Telstra Ventures and New Oriental.
Cloopen Group, a China-based cloud communication technology provider also known as Ronglian Cloud Communications and as Yuntongxun, has gone public following a $320m initial public offering on the New York Stock Exchange.
The company issued 20 million American Depositary Shares (ADSs), representing 40 million class A ordinary shares, priced at $16 each. It listed using the ticker symbol RAAS and shares closed at $29.65 yesterday.
Cloopen has developed smart cloud communications software aimed at clients in sectors such as…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
