Photo credit: Ryde

Ryde has started trading on the New York Stock Exchange (NYSE) with the ticker “RYDE,” marking the first time a Singaporean ride-hailing company has debuted on the NYSE.

Its stock debut price was US$4 per share, which shifted between US$4.2 and US$4.6 in its second trading day.

The company raised a total of US$12 million in gross proceeds, though it previously aimed to secure US$17 million through the IPO. Terence Zou, Ryde’s CEO, said that the firm plans to use the proceeds to expand globally and upgrade its tech.