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Youdao IPO of 5.6 Million ADSs Priced at $17 Each

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.

 

Write to Colin Kellaher at colin.kellaher@wsj.com

 

(END) Dow Jones Newswires

October 25, 2019 07:25 ET (11:25 GMT)

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