UAE-based Yalla Group Ltd., based in Dubai, announced the listing of its shares on the New York Stock Exchange for the first time in the Middle East and North Africa.
The group said in a press release, today, Thursday, that the listing will be valued at 18.6 million shares of shares deposited in the US market, and at an individual value of $ 7.50 per share of common stock. For the first-class company, at an announced price of $ 139.5 million, the total IPO of the company, assuming that the underwriting agents did not exercise their right to purchase more shares deposited in the US market.
and these shares started trading on the New York Stock Exchange in yesterday's Wednesday session under the name (YALA), while the subscription is expected to stop on the second of October in accordance with the customary closing provisions. In the American Stock Exchange.
The first public offering is managed by Morgan Stanley and Haitong Global Securities.
Yalla is a platform specialized in providing voice chat, social and entertainment applications in the Middle East and North Africa.
