|Bid||40.90 x 800|
|Ask||0.00 x 800|
|Day's Range||40.50 - 44.70|
|52 Week Range||35.75 - 162.00|
|Beta (5Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||51.00|
Agora Inc. shares are up 145% Friday to $49.19 on their Wall Street debut, the morning after it priced its initial public offering above the expected range. The video-interaction software company, with headquarters in Shanghai and Santa Clara, Calif., raised $350 million on the sale of 17.5 million American Depositary Receipts at $20 per ADS, compared with expectations that the IPO would price between $16 and $18. "Our service is quite relevant in this work-from-home climate, and the feedback to our public debut today is good," Agora Chief Executive Tony Zhao told MarketWatch in a phone interview Friday. "But our focus is always focused on building a good company. We can't do anything about things like legislation or other factors that might affect us," he added, acknowledging federal legislation that could impact companies with major operations in China. Agora reported a net loss of $36.9 million on total revenue of $35.6 million during the three months ended March 31, compared with a loss of $13.1 million on revenue of $13.4 million in the same period a year ago. When losses related to preferred share costs are removed, Agora's losses were $2.5 million in Q1 2019 and $3.4 million in Q1 2020.
Agora Announces Closing of Initial Public Offering and Full Exercise of the Underwriters' Overallotment Option
Agora, Inc. ("Agora"), a real-time engagement API provider, today announced the pricing of its initial public offering of 17,500,000 American depositary shares ("ADSs"), each representing four Class A ordinary shares of Agora, at a price to the public of $20.00 per ADS. Agora has granted the underwriters a 30-day option to purchase up to an additional 2,625,000 ADSs to cover overallotments. The ADSs are expected to begin trading on the Nasdaq Global Select Market on June 26, 2020 under the ticker symbol "API." The offering is expected to close on June 30, 2020, subject to customary closing conditions.