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NetEase Unit Youdao Falls 19% in Trading Debut After IPO

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.

 

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

 

(END) Dow Jones Newswires

October 25, 2019 11:26 ET (15:26 GMT)

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