WeTrade Group, which operates a membership-based platform for e-commerce services in China, raised $40 million by offering 10 million shares at $4, the low end of the range of $4 to $6.
The company provides technical services and solutions via its membership-based social e-commerce platform, and derives revenue from service fees charged for transactions conducted on its e-commerce platform-based SaaS products.
WeTrade Group plans to list on the Nasdaq under the symbol WETG. Univest Securities acted as sole bookrunner on the deal.
