MOKO Social Media, which operates a U.S. social media mobile ad network and an Australian flash sale site, announced terms for its uplisting to the NASDAQ on Wednesday. The Sydney, Australia-based company plans to raise $10 million by offering 1.2 million shares at a price range of $7.50 to $9.00. At the midpoint of the proposed range, MOKO Social Media would command a fully diluted market value of $164 million. MOKO currently trades on the Australian Securities Exchange under the symbol ASX, and is thinly traded on the OTCBB under the symbol MOKOY.
MOKO Social Media, which was founded in 2004 and booked $6 million in sales for the 12 months ended December 31, 2013, plans to list on the NASDAQ under the symbol MOKO. MOKO initially filed confidentially on March 3, 2014. Northland Securities is the sole bookrunner on the deal. No pricing date was disclosed.
