logo-loader

IPO Roundup: Chinese rental platform Q&K International rises on its second day of trading, 89bio puts its offering on hold

Q&K offered 2.7 shares at a price of $17 per share, the low end of its expected range, raising $46 million

Apartment for rent sign
Q&K operates by leasing apartments from landlords, renovating them into standardized furnished rooms and re-leasing them as affordable housing

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.

READ: IPO Roundup: Canada's potential largest IPO ever leads packed slate of companies going public this week
Postponed

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.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Tonix Pharmaceuticals CEO talks through recent pre-clinical and clinical...

Tonix Pharmaceuticals Holding Corp (NASDAQ:TNXP) CEO Seth Lederman sat down with Proactive at the BIO CEO & investor Conference in New York. Lederman says the biopharma company had recently unveiled the pre-clinical results of TNX-801, its live virus horsepox vaccine that prevents...

3 hours, 7 minutes ago

2 min read