TRMR prices US IPO at $19. Each ADS represents two ordinary shares so the implied valuation for TTTPF is $9.50 - https://www.tremorinternational.com/wp-content/uploads/2021/06/TRMR-Tremor-Announces-Pricing-of-Intitial-Public-Offering-170621.pdf https://www.sec.gov/Archives/edgar/data/1849396/000119312521171330/d50431df1.htm