Ryde closed at US$6.89 with 50 shares changing hands across the Frankfurt and Stuttgart exchanges.
SINGAPORE - Ride-hailing and carpooling company Ryde has completed its secondary listings on the Frankfurt and Stuttgart stock exchanges as it seeks to gain exposure to more investors in Europe.
It has a primary listing on the New York Stock Exchange , where it has a current market capitalisation of around US$133.5 million . Itand raised US$12 million through the sale of three million ordinary shares priced at US$4 apiece. He added that the firm is appointing new investor relations advisers focused on the German market, telling The Straits Times on June 10: “The German listings are the next step in our listed company’s journey. By having a presence in Europe and the United States, Ryde positions itself to capitalise on the global investor base across different markets.”
Ryde’s listings come amid its cash burn and widening losses in recent years. The company posted revenue of $8.8 million in 2022, primarily driven by its carpooling and ride-hailing services, which accounted for about three-quarters of its total revenue. The remaining revenue of about $2.2 million came from advertising and the firm’s Ryde+ membership.
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