By Colin Kellaher
Youdao Inc. (DAO) on Friday said its initial public offering of 5.6 million American depositary shares was priced at $17 apiece.
The Chinese learning products and services company majority owned by NetEase Inc. (NTES) earlier this month said it expected an offering price of $15 to $18 per ADS.
NetEase will remain Youdao's controlling shareholder.
Youdao said it expects its ADSs to begin trading Friday on the New York Stock Exchange.
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(END) Dow Jones Newswires
October 25, 2019 07:25 ET (11:25 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.