Benzinga | Jan 12, 2021 07:55AM EST

Kuke Music Holding Limited Prices 5M ADS Common Stock Offering At $10/ADS

BEIJING, Jan. 12, 2021 /PRNewswire/ -- Kuke Music Holding Limited ("Kuke" or the "Company"), a leading provider of classical music licensing, subscription and education services in China, today announced the pricing of its initial public offering of 5,000,000 American Depositary Shares ("ADSs"), each representing one Class A ordinary share of the Company, at a price of US$10.00 per ADS, which translates to a total offering size of US$50.0 million, assuming the underwriters do not exercise their option to purchase additional ADSs. The ADSs are expected to begin trading on the New York Stock Exchange on January 12, 2021, under the symbol "KUKE." The closing of the offering is expected to occur on January 14, 2021, subject to the satisfaction of customary closing conditions.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 750,000 additional ADSs at US$10.00 per ADS.