By Colin Kellaher
Shares of Youdao Inc. (DAO) fell more than 19% in their trading debut Friday after the company's initial public offering of 5.6 million American depositary shares was priced at $17 apiece.
Youdao ADSs were changing hands at $13.75, down about 19.1%, after opening at $13.50.
The Chinese learning products and services company, which remains majority owned by NetEase Inc. (NTES), raised about $220 million in the IPO and a concurrent private placement.
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(END) Dow Jones Newswires
October 25, 2019 11:26 ET (15:26 GMT)Copyright (c) 2019 Dow Jones & Company, Inc.