Ryde Group Ltd Rings the New York Stock Exchange (“NYSE”) Closing Bell on April 4, 2024

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Ryde Group , a technology company based in Singapore, celebrated its IPO success by participating in the New York Stock Exchange closing bell ceremony. The IPO sold 3,000,000 Class A ordinary shares at US$4.00 per share, generating US$12,000,000 in gross proceeds. Ryde aims to expand into new markets and invest in technology to drive future growth and revenue.

SINGAPORE--(BUSINESS WIRE)-- Ryde Group Ltd (“Ryde” or “the Company”) (NYSE American: RYDE), a technology company with a leading platform for mobility and quick commerce in Singapore, today announced that the Company’s senior management team, including CEO and Founder Terence Zou, CFO Chen Fei Lang and CTO Nitin Dolli, participated in the New York Stock Exchange closing bell ceremony in person on Thursday, April 4, 2024.

Executives and guests of Ryde Group Ltd (NYSE American: RYDE) participated in the New York Stock Exchange closing bell ceremony to celebrate the Company's listing. Terence Zou, CEO and Founder, rang the Closing Bell. Photo Credit: NYSE

The ceremony celebrated the success of the Company’s IPO, on March 8, 2024, and honored Ryde as the first Singaporean ride-hailing start-up to IPO on the NYSE. That IPO sold 3,000,000 Class A ordinary shares at a price of US$4.00 per share to the public for a total of US$12,000,000 of gross proceeds to the Company before deducting underwriting discounts and offering expenses.

“We are honored to have rung the New York Stock Exchange closing bell,” said Mr. Terence Zou, Founder & CEO of Ryde. “As the first Singaporean ride-hailing start-up to IPO on the NYSE, we believe our carpooling, ride-hailing, and quick commerce delivery services bring Singapore’s communities closer and make mobility more sustainable."

“As importantly, we proudly stand as the world's first real-time carpooling app dedicated to sustainable transportation solutions and a reduced carbon footprint. This is especially important in Singapore, where there exists increasing demand for services to meet the needs of commuters due to limitations on vehicle ownership,” concluded Mr. Zou.

Looking forward, Mr. Zou said that Ryde is planning on utilizing “a significant portion” of its IPO proceeds to both propel the Company into new geographic markets and to invest in technological improvements. These efforts, he said, will play “a pivotal role” in accelerating Ryde’s future revenue and operational growth.

A replay of the Closing Bell ceremony can be found at this link: https://www.youtube.com/watch?v=MDMDUecVJVU

About Ryde Group Ltd

The first carpool app developed in Singapore, Ryde has revolutionized how people move from point to point. Its mission is to positively impact the lives of all riders and drivers through leveraging technology to better facilitate the movement of people and goods.

Ryde provides on-demand and scheduled carpooling and ride-hailing services, connecting riders with drivers. Ryde also provides on-demand, scheduled, and multi-stop parcel delivery services. From its origins as a carpool app, Ryde has expanded to provide a full suite of mobility and delivery options. For more information, please visit: https://rydesharing.com/

View source version on businesswire.com: https://www.businesswire.com/news/home/20240404564628/en/

For Media Relations:

Media Team

Ryde Group Ltd

Email: media@rydesharing.com

For Investor Relations:

Investor Relations Team

Ryde Group Ltd

Email: investor@rydesharing.com

Skyline Corporate Communications Group, LLC

Email: info@skylineccg.com

Source: Ryde Group

FAQ

What is Ryde Group 's ticker symbol?

RYDE

When did Ryde Group celebrate its IPO success?

Ryde Group celebrated its IPO success by participating in the New York Stock Exchange closing bell ceremony on April 4, 2024.

How many Class A ordinary shares were sold during Ryde Group 's IPO?

Ryde Group 's IPO sold 3,000,000 Class A ordinary shares.

At what price were the Class A ordinary shares sold during Ryde Group 's IPO?

The Class A ordinary shares were sold at a price of US$4.00 per share.

What is the total gross proceeds generated from Ryde Group 's IPO?

Ryde Group 's IPO generated a total of US$12,000,000 in gross proceeds.

Who participated in the New York Stock Exchange closing bell ceremony on behalf of Ryde Group ?

The Company's senior management team, including CEO Terence Zou, CFO Chen Fei Lang, and CTO Nitin Dolli, participated in the ceremony.

What are Ryde Group 's plans for utilizing a significant portion of its IPO proceeds?

Ryde Group plans to use a significant portion of its IPO proceeds to expand into new geographic markets and invest in technological improvements.

What is Ryde Group 's focus in terms of services and sustainability?

Ryde Group focuses on carpooling, ride-hailing, and quick commerce delivery services to bring communities closer and make mobility more sustainable.

Why is Ryde Group 's focus on sustainable transportation solutions important?

Ryde Group 's focus on sustainable transportation solutions is crucial in Singapore due to increasing demand for services to meet commuter needs and limitations on vehicle ownership.

What is Ryde Group 's position as the world's first real-time carpooling app dedicated to sustainable transportation solutions?

Ryde Group proudly stands as the world's first real-time carpooling app dedicated to sustainable transportation solutions and a reduced carbon footprint.