News Snapshot:
Chinese online insurance technology firm Waterdrop Inc has raised $360 million by pricing its shares at $12 a piece in its New York initial public offering (IPO), according to two sources with direct knowledge of the matter. The company, which is backed by Tencent Holdings Ltd, had flagged in a securities filing it would sell 30 million American Depository Shares (ADS) at $10 to $12 each, which means the finalised price is at the top end of the indicated range. The pricing of the IPO at the top end showed investors overlooked regulatory scrutiny of the fintech sector currently underway...
