LZ Technology Holdings, which provides advertising services via a network of monitors across China, announced terms for its IPO on Wednesday.
The Huzhou, China-based company plans to raise $50 million by offering 10 million shares at a price range of $4 to $6. At the midpoint of the proposed range, LZ Technology Holdings would command a fully diluted market value of $837 million.
LZ Technology is an information technology and advertising company with operations across three business verticals: Out-of-Home Advertising, Local Life, and Smart Community. Through out-of-home advertising, the company places advertisements on monitors and within its SaaS software, capitalizing on its network of monitors across approximately 120 cities in China. The company also partners with other outdoor advertising providers to maximize coverage. Through its local life offering, LZ Technology connects local businesses with consumers via online promotions and transactions, and through its smart community offering, it provides intelligent community building access and safety management systems.
LZ Technology Holdings was founded in 2014 and booked $78 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol LZMH. EF Hutton is the sole bookrunner on the deal.
