BingEx Limited Announces Pricing of Initial Public Offering

BEIJING, Oct. 04, 2024 (GLOBE NEWSWIRE) -- BingEx Limited ("BingEx” or the "Company”) (Nasdaq: FLX), a leading on-demand dedicated courier services provider in China (branded as "FlashEx”), today announced the pricing of its initial public offering of 4,000,000 American Depositary Shares ("ADSs"), each representing three Class A ordinary shares of the Company, at US$16.50 per ADS. The gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to total US$66.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. In addition, BingEx has granted the underwriters a 30-day option to purchase up to an aggregate of 600,000 additional ADSs at the initial public offering price less underwriting discounts and commissions.

The ADSs have been approved for listing and are expected to begin trading on the Nasdaq Stock Market today under the symbol "FLX.” The offering is expected to close on October 7, 2024, subject to customary closing conditions.