Tencent-backed Chinese cloud IoT provider Tuya files for US IPO
Tencent-backed Chinese cloud IoT provider Tuya files for US IPO March 3, 2021 Tuya, a Chinese IoT cloud platform for smart devices, has filed for an initial public offering (IPO) on the New York Stock Exchange. It said in a filing that it targets to raise $100 million, which is a placeholder amount likely to change. In the regulatory filing, Tuya did not disclose its pricing terms and it has not selected a ticker symbol. Morgan Stanley, BofA Securities, and Chinese global investment bank CICC are the joint bookrunners for the deal. After the IPO, Tuya will bankroll the developments of R&D, ...