Fangdd Network Group Ltd (NASDAQ:DUO), an online real estate marketplace based in Shenzhen China, has raised $78 million in a downsized IPO.
The company offered 6 million shares, 1 million fewer than expected, at $13 each, the low end of its projected range.
The company claims to be the largest real estate marketplace in China, featuring 911,000 of the country’s roughly 2 million agents on its platform as of December 31.
In June, Fangdd had 131 million properties in its database, one of the largest such databases in China according to Frost & Sullivan.
Shares opened at $13.35 and edged 2.7% higher to $13.35.
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