Ryde debuts on the New York Stock Exchange

The SG-based company priced its IPO at US$4.00 per share. 

Singapore-based ride-hailing company Ryde debuted on the New York Stock Exchange (NYSE) on 6 March.

It began trading under the ticker symbol “RYDE.” The company offered 3,000,000 ordinary shares during its IPO to raise US$12m.

“Being the first Singapore ride-hailing startup to list our shares on NYSE through an IPO is a historic achievement for Ryde. This significant milestone fuels our optimism as we embark on a journey to redefine carpooling, ride-hailing, and quick commerce,” said Terence Zou, founder and CEO of Ryde.

Ryde plans to use proceeds from the IPO to strengthen Ryde’s “competitive position.”

“The use of proceeds from our initial public offering will play a pivotal role in the expansion of Ryde’s services globally and disrupting the incumbents in the industry,” Zou said.