Economy· Business· Retail

Chinese 111 Inc starts trading on NASDAQ with an opening price of USD 16.75 apiece

minutes 2018/09/13 06:59:21
China's Financial News, China News,  Healthcare Service

Sep 13, 2018 (China Knowledge) - Chinese leading online retail pharmacy and healthcare service provider 111 Inc <YI:NASDAQ>., begins trading on Nasdaq stock market yesterday with an opening price of USD 16.75 apiece. In this IPO, the company will be issuing 9.3 million American Depository Receipt (ADRs), at USD 14 apiece, in a bid to raise USD 100 million.

The company launched its first ever online retail pharmacy of China called ‘1 Drugstore’ in 2010. 1 Drugstore grew to be the largest selling online medicine store in the country in terms of gross merchandise volume (GMV) in 2016. In a bid to serve consumers better, 1 Clinic was launched in 2016 to provide consumers cost effective and convenient online consultation with electronic prescription given.

111 Inc. is actively enhancing its smart supply chain, leveraging on its cloud-based solutions, big data, and medicate expertise to reshape the pharmaceutical value chain in China using New Retail platform. 1 Drug Mall, an online wholesale pharmacy was also launched for medical stores to source a vast selection of therapeutic products.

The company shares price close at USD 13.8, down 1.43%. 

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