Q&K International Group Ltd (NASDAQ:QK), a Shanghai-based apartment rental platform, raised $46 million in its IPO on Monday night.
The company offered 2.7 shares at $17 per share, the low end of its expected range.
Q&K operates by leasing apartments from landlords, renovating them into standardized furnished rooms and re-leasing them as affordable housing.
The stock debuted Tuesday at $17.35 and is trading higher on its second day at $18.01.
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89bio Inc (NASDAQ:ETNB), a Phase 1 biotechnology company developing therapies for nonalcoholic steatohepatitis (NASH) and other metabolic diseases, opted to shelve its planned $70 million offering.
The San Francisco company had planned to offer 4.4 million shares at a price between $15 and $17 per share, but an administrative issue arose between its auditor and the SEC, according to research firm Renaissance Capital.
89bio’s company’s lead product candidate, BIO89-100, is an engineered analog of fibroblast growth factor 21, which functions as an endocrine hormone-regulating carbohydrate and lipid metabolism.
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