September 30, 2019 / 6:47 PM / 5 months ago

Chinese e-learning company Youdao files for U.S. IPO

Sept 30 (Reuters) - Chinese e-learning company Youdao Inc filed for an initial public offering with the U.S. Securities and Exchange Commission on Monday.

The company, which intends to list under the symbol "DAO" on the New York Stock Exchange, set a placeholder amount of $300 million to indicate the size of the IPO, a filing with the regulator showed.

The size of the IPO stated in preliminary filings is used to calculate registration fees. The final IPO size could be different.

Youdao was founded in 2006 as part of NetEase Inc, which owns a controlling stake in the company.

Earlier in the day, White House trade adviser Peter Navarro rebuffed reports that the Trump administration was considering delisting Chinese firms from U.S. stock exchanges. (Reporting by Neha Malara in Bengaluru; Editing by Anil D'Silva)

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