Agora ADRs Rise After Senior Management Agrees to Voluntary Lock-Ups

Dow Jones12-03

By Chris Wack

Agora American depositary receipts were up 6% to $5.46 after the company said members of its senior management team have voluntarily entered into a lock-up period, starting Monday and expiring Dec. 31, 2025.

Shares of the real-time engagement technology company hit their 52-week high of $6.49 on Nov. 27, and have doubled in the past 12 months.

The Santa Clara, Calif., company said all of its executive officers voluntarily undertook that they and entities controlled by them won't sell any shares of the company directly or indirectly beneficially owned by them until Dec. 31, 2025.

The one exception to that is 400,000 ADSs to be sold by Chief Technology Officer Sheng Zhong, for personal financial reasons. Zhong expects the sale to be completed by Dec. 31.

Write to Chris Wack at chris.wack@wsj.com

(END) Dow Jones Newswires

December 02, 2024 11:00 ET (16:00 GMT)

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