The Bertelsmann, UCommune and Ant Financial-backed property manager raised nearly $130m depite downsizing its initial public offering.
China-based property rental marketplace Danke Apartment, which counts media group Bertelsmann, co-working space provider UCommune and financial services provider Ant Financial as investors, floated on Friday having secured almost $130m.
The offering consisted of 9.6 million American depositary shares (ADSs) on the New York stock Exchange, each representing 10 ordinary shares, priced at $13.50 each. The price was below the IPO’s $14.50 to $16.50 range and the number of ADSs was cut from 10.6 million.
Danke operates what it refers…
