Tuya Inc. (TUYA) Prices 43.59M ADS IPO at $21/ADS

Tuya Inc. (NYSE: TUYA), a leading IoT cloud platform in China, today announced the pricing of its initial public offering of 43,590,000 American depositary shares ("ADSs"), at US$21.00 per ADS, for a total offering size of US$915.4 million, before exercise of over-allotment option for underwriters to purchase any additional ADSs. Each ADS represents one Class A ordinary share of the Company. The ADSs are expected to begin trading on the New York Stock Exchange today under the ticker symbol "TUYA." The offering is expected to close on March 22, 2021, subject to 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 6,538,500 additional ADSs.

Morgan Stanley & Co. LLC, BofA Securities, Inc. and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners of the offering. Tiger Brokers (NZ) Limited and CMB International Capital Limited are acting as co-managers of the offering.

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