Company Overview
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Initial Public Offering
The company had launched its IPO on March 21st, 2024, under the ticker RDDT and had sold approximately 158,983,572 shares at USD 32.50 share. We had covered this IPO in our ‘Kalkine IPO Report’ on March 18, 2024, and had concluded that this IPO was “Attractive” given it given the financial performance of the company, increased global DAUq and revenue, market opportunity of RDDT, use of proceeds, and associated risks.
Conclusion
Investors who have invested in this IPO can consider ‘Exiting’ from their position at the closing price of USD 58.00. as on March 27, 2024, given:
- Decent gains: The stock has moved up more than ~78.46% from its IPO offering price of USD 32.50 per share.
- Interest rate Risk: RDDT is prone to market fluctuations in all the capital markets that the company invests its investments in as the previous year has been a downward trending year for both fixed income and equity markets. Ongoing recession fear in the global market could keep the capital market and money marker quite volatile near-term.
*The reference data in this report has been partly sourced from Refinitiv.