Planet Image International, a Chinese toner cartridge manufacturer, raised $5 million by offering 1.3 million shares at $4, the low end of the range of $4 to $5. The IPO float is just 2.3% of basic shares outstanding.
Planet Image develops and manufactures toner cartridges that are compatible with a range of commonly available models of laser printers from different manufacturers, and operates under a number of different brands.
Planet Image International plans to list on the Nasdaq under the symbol YIBO. Tiger Brokers acted as sole bookrunner on the deal.
