The Baidu and SoftBank-backed on-demand staff provider floated in the middle of its range in a US offering and its market cap currently stands at about $600m.
Quhuo, a China-based staffing services provider backed by internet company Baidu and telecommunications and internet group SoftBank, has floated on the Nasdaq Global Market in a $33m initial public offering.
The company priced 3.3 million shares at $10.00 each, in the middle of the $9 to $11 range it had set. Its shares peaked at $20.90 on their first day of trading on Friday and closed at $11.59 yesterday giving it a valuation of about $600m.
Founded in 2012,…
