PE-backed Gogox sinks on debut after $98m Hong Kong IPO
Gogox, a last-mile logistics company formed through the merger of Hong Kong's GoGoVan and an affiliate of mainland China-based 58.com, fell 22% on its Hong Kong trading debut following a HKD 771.4 (USD 98.3m) IPO.
The company, which received several rounds of private funding, before and after the merger, sold approximately 35.9m shares – including an overallotment option of 4.68m shares – at HKD 21.50 apiece,...
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