Phoenix Tree’s (NYSE:DNK) quiet period is set to end on Wednesday, February 26th. Phoenix Tree had issued 9,600,000 shares in its public offering on January 17th. The total size of the offering was $129,600,000 based on an initial share price of $13.50. During the company’s quiet period, underwriters and any insiders involved in the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
NYSE DNK opened at $11.10 on Wednesday. Phoenix Tree has a 1-year low of $11.01 and a 1-year high of $13.90.
About Phoenix Tree
Danke, one of the largest co-living platforms in China with the fastest growth, is redefining the residential rental market through technology and aims to help people live better. Empowered by data, technology, and a large-scale apartment network, Danke's vibrant and expanding ecosystem connects and benefits property owners, residents and third-party service providers, and delivers quality and best-in-class services through an innovative "new rental" business model featuring centralization, standardization, and a seamless online experience.
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