Price Range: Ads and Bank Corp

price range: Earlier this month, it had aimed to sell 36 million ADS at a price range of 12 to 14 per share, but Wednesday it lowered the range to 9 to 10 and set a goal of selling 26 million ADS. ; The 3.7 billion valuation is well below its 7.5 billion mark last year when the company raised 750 million in its maiden funding round from investors including Soft Bank Corp. and financial firm SBI Group, according to The Japan Times. The float comes as tech investor Soft Bank smarts from the abandoned share sale of major portfolio firm WeWork, as well as its first quarterly loss in 14 years, dragged down by an 8.9 billion hit at its giant Vision Fund, through which it invested in One Connect. OneConnect sold 31.2 million American depositary shares ADS at 10 each. OneConnect had revenues of 1.55 billion yuan 220.2 million in the first nine months of 2019, up 72 percent from the year-ago period, but losses widened to 1 billion yuan from 579 million yuan. OneConnect, which provides technology solutions to small and medium-sized financial institutions, was eyeing a valuation of about 8 billion and an IPO of up to 1 billion, sources said in June. RELATED STORIESSoft Bank and University of Tokyo to open business-oriented AI research centers Soft Bank's new tech fund to fall shy of target, Telegraph reports Soft Bank will have 'last laugh' on WeWork deal, analyst predicts In 2019, U.S. investors have been reluctant to back companies going public with large losses, and shares of money-losing companies like Uber Technologies Inc. and Lyft Inc. have struggled since their IPOs. (news.financializer.com). As reported in the news.