Chinese services SPAC AGBA Acquisition prices IPO at $10

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AGBA Acquisition, a blank check company targeting the services sector in China, raised $40 million by offering 4 million units at $10, where it commands a market value of $52 million. 

The units consist of one share of common stock, one warrant, and one right to receive an ordinary share upon the consumption of the business combination. Two warrants are needed to to purchase a share at $11.50, and 10 rights are needed to receive a share.

 AGBA Acquisition has begun trading on the Nasdaq under the symbol AGBAU. Maxim Group LLC acted as a lead manager on the deal.

The article Chinese services SPAC AGBA Acquisition prices IPO at $10 originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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