Shanghai-based artificial intelligence (AI)-powered mobile Internet firm CooTek Inc., best known for keyboard application TouchPal, raised US$52 million in a downsized initial public offering (IPO) in America by pricing its shares at US$12 apiece, the low end of the company’s target price range of US$12 to US$14. The company sold 4.35 American depositary shares (ADSs), each representing 50 class A ordinary shares of the company for a total offering size of US$52.2 million. The offering shrank from US$100 million CooTek previously applied to …

Chinese Maker Of TouchPal Keyboard CooTeck Raises $52M In Downsized US IPO appeared first on China Money Network.