Deals
China’s Tuya Is Poised to Raise $915 Million in U.S. IPO
- Tencent-backed firm’s shares prices deal above marketed range
- Company’s cloud platform used to manage smart devices
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Tuya Inc., a Chinese software company backed by New Enterprise Associates and Tencent Holdings Ltd., raised $915 million in a U.S. initial public offering priced above its marketed range.
The company priced its sale of 43.59 million American depositary shares at $21 each, according to terms of the deal obtained by Bloomberg News. Tuya had marketed the shares at $17 to $20 each.