HONG KONG -- Chinese technology companies are flocking to New York for initial public offerings once again, reviving a record-setting flow that had slowed after a streak of weak openings amid shaky markets.
Cargo platform Full Truck Alliance, backed by Tencent Holdings and SoftBank Group, is set to price its IPO at $19 per depository share, the top of the range at which they were marketed, said two people familiar with the transaction. At that level, proceeds from the IPO would reach $1.57 billion, with the shares to begin trading on the New York Stock Exchange on Tuesday.
