Youdao’s (NYSE:DAO) quiet period will expire on Wednesday, December 4th. Youdao had issued 5,600,000 shares in its public offering on October 25th. The total size of the offering was $95,200,000 based on an initial share price of $17.00. During Youdao’s quiet period, insiders and any underwriters involved in the IPO are prevented from issuing any research reports for the company because of SEC regulations. Following the end 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.
Separately, Citigroup started coverage on shares of Youdao in a research note on Friday, November 22nd. They set a “buy” rating for the company.
Shares of NYSE:DAO opened at $14.00 on Tuesday. Youdao has a 1-year low of $12.01 and a 1-year high of $15.49.
Youdao, Inc, an Internet technology company, provides online services in content, community, communication, and commerce in China. The company provides various learning content, applications, and solutions, which covers topics and targets people from various age groups for their learning needs through its websites and mobile applications.
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