AMTD Digital shares more than doubled on its debut trading day on the New York Stock Exchange.
On July 15, AMTD Digital closed at US$16.21, versus its IPO offering price of US$7.80.
AMTD Digital raised some US$124.8 million from selling 16 million shares for this listing, which was in the works for at least a year.
AMTD Digital is a subsidiary of AMTD Idea, which is listed on New York and has a dual-listing in Singapore.
AMTD Idea, which changed its name from AMTD International on June 1, in turn, is a subsidiary of Hong Kong based AMTD Group, headed by Calvin Choi.
AMTD Digital is described as “one of the most comprehensive one-stop digital solutions platforms in Asia.” The AMTD Group is active in various business activities ranging from corporate finance to investing in fintech startups to taking stakes in property assets.
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With the listing of AMTD Digital, AMTD Idea continues to be the dominant shareholder with a stake of 88.7%.
AMTD Idea shares quoted on SGX last traded at $12.80; its US-quoted ADRs last traded at US$1.12.
