SoftBank, Tencent, Alphabet and Baidu-backed trucking services marketplace Full Truck Alliance has gone public in an offering sized at close to $1.57bn.

China-headquartered trucking services platform developer Full Truck Alliance secured almost $1.57bn today in an initial public offering representing an exit for corporates SoftBank, Alphabet, Baidu and Tencent.

The offering consisted of 82.5 million American Depositary Shares (ADSs), each representing 20 ordinary shares, issued on the New York Stock Exchange priced at the top of its $17 to $19 range.

Ontario Teachers’ Pension Plan Board and an affiliate of Mubadala Investment Company are each buying $100m of shares through a…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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