AMTD Digital doubles on New York trading debut

AMTD Digital closed at US$16.21, versus its IPO offering price of US$7.80.

AMTD Digital shares more than doubled on its debut trading day on the New York Stock Exchange.

On July 15, AMTD Digital closed at US$16.21, versus its IPO offering price of US$7.80.

AMTD Digital raised some US$124.8 million from selling 16 million shares for this listing, which was in the works for at least a year.

AMTD Digital is a subsidiary of AMTD Idea, which is listed on New York and has a dual-listing in Singapore.

AMTD Idea, which changed its name from AMTD International on June 1, in turn, is a subsidiary of Hong Kong based AMTD Group, headed by Calvin Choi.

AMTD Digital is described as “one of the most comprehensive one-stop digital solutions platforms in Asia.” The AMTD Group is active in various business activities ranging from corporate finance to investing in fintech startups to taking stakes in property assets.

With the listing of AMTD Digital, AMTD Idea continues to be the dominant shareholder with a stake of 88.7%.

AMTD Idea shares quoted on SGX last traded at $12.80; its US-quoted ADRs last traded at US$1.12.

 

 

See Also:

• Click here to stay updated with the Latest Business & Investment News in Singapore

• BeerCo, Ant Group: Asia's biggest IPOs to watch for the second half

• Global IPO market halved year to date; 'record number' of spacs face ticking clock

• Crypto company IPO not a piece of cake

• Read more stories about where the money flows, and analysis of the biggest market stories from Singapore and around the World

• Get in-depth insights from our expert contributors, and dive into financial and economic trends

• Follow the market issue situation with our daily updates

• Or want more Lifestyle and Passion stories? Click here