TUYA - Tuya prices 7.3M shares in global offering

Tuya (NYSE:TUYA) priced its global offering of 7.3M Class A ordinary shares consisting of a Hong Kong public offering and an international offering. The final offering price for both the International Offering and the Hong Kong Public Offering has been set as HK$19.30/offer share. Based on the ratio of one Class A ordinary share per NYSE-listed ADS, offering price leads to $2.46/ADS based on an exchange rate of HK$7.8494 to US$1.00. International underwriters granted 30-days over-allotment option to purchase additional 1.095M offer shares at offer price. Net proceeds are expected to be HK$70M which it plans to use for enhancing IoT technologies and infrastructure; enhancing its product offerings; improving sales and marketing; pursuing strategic partnerships, investments and acquisitions; and for working capital and other purposes. Class A ordinary shares are expected to trade on Main Board of the Hong Kong Stock Exchange on or about July 5 and the global offering is also expected to

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Tuya prices 7.3M shares in global offering