Yalla Group Limited reports developments for a MENA-based online social networking and gaming business whose ADSs trade on the NYSE under YALA. The company operates the Yalla voice-centric group chat platform and Yalla Ludo casual gaming app, with localized voice chat and Majlis features for users in the region.
Recurring news covers quarterly and annual results, user and paying-user metrics, revenue from chatting and games services, share repurchase authorizations, and product ecosystem updates. Company announcements also describe regional gaming initiatives, Yalla Game Limited, YallaChat, WeMuslim, Yalla Baloot, 101 Okey Yalla and Yalla Parchis as part of Yalla’s localized social and entertainment platform.
Yalla Group Limited (NYSE: YALA) has priced its initial public offering (IPO) at US$7.50 per American depositary share (ADS), totaling approximately US$139.5 million. The offering, consisting of 18,600,000 ADSs, will commence trading on the New York Stock Exchange today, with a closing date set for October 2, 2020. Additionally, underwriters have an option to purchase 2,790,000 more ADSs within 30 days. Morgan Stanley and Haitong International are the joint bookrunners for this offering.