Ryde Group expands with European stock listings

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SINGAPORE – Ryde Group Ltd (NYSE American: RYDE), a Singapore-based technology platform specializing in mobility and quick commerce, has announced its secondary listing on the Frankfurt Stock Exchange (FSE) and Stuttgart Stock Exchange (XSTU), trading under the ticker symbol D0S. This move is designed to broaden the company’s investor base by enhancing accessibility for European investors while retaining its primary listing on the NYSE American.

The company’s CEO, Terence Zou, has stated that the expansion into the Frankfurt and Stuttgart Stock Exchanges is a strategic effort to make Ryde’s offerings more readily available to European markets. Ryde plans to engage new investor relations advisors in Germany to increase the visibility of its value proposition.

Ryde, known for being the world’s first on-demand carpooling app since 2014, extends a range of services including carpooling, private hire, taxi, and delivery. The company prides itself on a business model that supports private-hire and taxi partners by not charging commission, thereby ensuring drivers receive a greater share of earnings.

The listing details for Ryde Group Ltd include the International Securities Identification Number (ISIN) KYG7733R10120, the German Securities Code (WKN) A3E1JW, and the symbol D0S.

This expansion reflects Ryde’s ambition to tap into a global investor base and positions the company for increased international presence. The secondary listing also allows current shareholders the flexibility to trade their shares across multiple markets without impacting their ownership stakes.

The information in this article is based on a press release statement from Ryde Group Ltd.

InvestingPro Insights

In light of Ryde Group Ltd’s recent expansion onto European exchanges, investors may find it pertinent to consider the company’s financial health and stock performance metrics. According to InvestingPro data, Ryde currently has a market capitalization of $152.93 million. The company’s performance over the last year has been notable, with a year-to-date price total return of 97.25% as of this writing. However, it’s important to note that the stock has experienced a significant downturn in the past week, with a 12.24% decrease in price total return.

One of the InvestingPro Tips for Ryde suggests that the stock generally trades with high price volatility, which is consistent with the recent fluctuations in its market price. Additionally, Ryde’s revenue for the last twelve months as of Q4 2023 stands at $6.57 million, with a reported decline in revenue growth of -1.79% over the same period. This could signal challenges in the company’s ability to expand its revenue streams, which is especially relevant for investors considering the company’s new exposure to European markets.

Investors interested in a deeper dive into Ryde’s financials and stock performance can find a wealth of information and additional InvestingPro Tips at https://www.investing.com/pro/RYDE. There are 12 additional tips available, which can provide further insights into the company’s operation metrics and market expectations. For those looking to subscribe to InvestingPro for a comprehensive analysis, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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