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Chinese drone maker EHang prices IPO at $12.50, the low end of the range

EHang Holdings, a Chinese developer of autonomous drones used for passenger services, raised $40 million by offering 3.2 million ADSs at $12.50, the low end of the range of $12.50 to $14.50. Insiders had indicated on $7 million of the IPO. At the IPO price, EHang commands a fully diluted market cap of $687 million.

EHang Holdings plans to list on the Nasdaq under the symbol EH. Morgan Stanley acted as a lead manager on the deal.

The article Chinese drone maker EHang prices IPO at $12.50, the low end of the range 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.

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