China’s GigaCloud goes public in the US, bucking delisting trend

E-commerce business GigaCloud technology debuted on the Nasdaq Stock Exchange Thursday saw a rare case of a Chinese company going public in the United States as the two countries move toward financial decoupling.

GigaCloud, an online platform that connects makers of bulky consumer items to shoppers around the world, raised $36 million in gross proceeds after selling 2.94 million Class A shares. The deal valued the company at $486 million. The amount raised could reach $41 million if the underwriter sells more shares to exercise the so-called over-allotment options, usually when the shares are in high demand.


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