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Ryde Group Becomes First Singaporean Ride-Hailing Start-Up to Go Public on NYSE

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Ryde Group,Singapore,Ride-Hailing

Ryde Group Ltd, led by CEO Terence Zou, celebrates going public on the New York Stock Exchange (NYSE), marking a significant moment for the company and the Singaporean tech ecosystem.

SINGAPORE: Ryde Group Ltd marked a historic milestone on Friday by becoming the first Singaporean ride-hailing start-up to go public on the New York Stock Exchange .

In a statement released to the press, Ryde Group expressed pride in achieving this feat and emphasized the significance of the moment for the company and the Singaporean tech ecosystem at large. Ryde Group’s IPO saw the sale of 3,000,000 Class A ordinary shares at a price of $5.394 per share, amounting to a total of $16.18 million in gross proceeds.CEO Terence Zou affirmed that a substantial portion of the proceeds would be allocated towards expanding Ryde Group’s presence in new geographic markets and enhancing its technological infrastructure.

 

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