Xunlei, which offers digital content acceleration and online video services in China, announced terms for its IPO on Thursday. The Shenzhen, China-based company plans to raise $73 million by offering 7.3 million shares at a price range of $9 to $11. At the midpoint of the proposed range, it would command a fully diluted market value of $725 million.
Xunlei, which was founded in 2003 and booked $175 million in sales for the 12 months ended March 31 2014, plans to list on the NASDAQ under the symbol XNET. It initially filed confidentially on January 7, 2014. J.P. Morgan and Citi are the joint bookrunners on the deal. It is expected to price during the week of June 23, 2014.
