M17 Entertainment, a Taiwan-based live music streaming platform and dating app, announced terms for its IPO on Friday.
The company plans to raise $83 million by offering 7.51 million ADSs at a price range of $10 to $12. At the midpoint of the proposed range, M17 Entertainment would command a fully diluted market value of $412 million.
M17 Entertainment was founded in 2013 and booked $116 million in sales for the 12 months ended March 31, 2018. It plans to list on the NYSE under the symbol YQ. Citi and Deutsche Bank are the joint bookrunners on the deal. It is expected to price during the week of June 4, 2018.
The articleoriginally appeared on IPO investment manager Renaissance Capital’s web site renaissancecapital.com.
Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital’s research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital’s, , or separately managed institutional accounts may have investments in securities of companies mentioned.
original article by.
photo by Shutterstock