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Ryde opens on NYSE at US$3.70 per share

Felicia Tan
Felicia Tan • 2 min read
Ryde opens on NYSE at US$3.70 per share
The Singapore ride-hailing and carpooling company priced its initial public offering (IPO) at US$4, at the lower end of its US$4 to US$5 range. Photo: Ryde
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Ryde has listed on the New York Stock Exchange (NYSE) under the ticker symbol “RYDE”.

The Singapore ride-hailing and carpooling company priced its initial public offering (IPO) at US$4 ($5.35), which is at the lower end of its initial range of US$4 to US$5.

On opening day, shares in Ryde opened at US$3.70 apiece.

“Being the first Singapore ride-hailing startup to list our shares on NYSE through an IPO is a historic achievement for Ryde. This significant milestone fuels our optimism as we embark on a journey to redefine carpooling, ride-hailing, and quick commerce,” says Terence Zou, founder and CEO of Ryde.

“We have faced challenges and hurdles that have tested our determination and resolve. But what has kept us going is the understanding of the impact that we have on people’s lives. It’s about our drivers who find a new source of livelihood, and our riders who enjoy the convenience and efficiency of our services,” Zou adds.

According to Ryde, the proceeds from its IPO will help the company venture into new markets and invest in technological improvements.

See also: Hong Kong-traded CK Infrastructure, backed by Li Ka-shing, mulls second listing in London

In March 2021, Ryde had planned to list on the Singapore Exchange S68 -

’s (SGX) Catalist board with a valuation target of $200 million. However, no prospectus was lodged.

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