Jinxin Technology Holding, which provides a digital textbook and educational content platform for K-9 students in China, announced terms for its IPO on Wednesday.
The Shanghai, China-based company plans to raise $8 million by offering 1.9 million ADSs at a price range of $4 to $5. At the midpoint of the proposed range, Jinxin Technology Holding would command a market value of $291 million. The IPO float is just 2.9% of basic shares outstanding.
Jinxin Technology provides a digital textbook platform and digital educational content for K-9 students in China. The company collaborates with textbook publishers in China to provide digital version of mainstream textbooks used in primary and middle schools. It also creates and develops digital self-learning contents and leisure reading materials in-house. The company distributes content primarily through its flagship learning app, Namibox; telecom and broadcast operators; and third-party devices. Since its inception, the Namibox app has amassed over 79 million cumulative downloads and more than 39 million registered users as of December 31, 2023. Jinxin Technology eventually plans to further expand its service offerings to include other age groups.
Jinxin Technology Holding was founded in 2014 and booked $52 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol NAMI. EF Hutton is the sole bookrunner on the deal.
