Secoo Holding, a Chinese online retailer offering pre-owned luxury brands, announced terms for its IPO on Monday. In the filing, it added BNP Paribas as a co-manager, joining bookrunner Jefferies.
The Beijing, China-based company plans to raise $106 million by offering 8.5 million ADSs at a price range of $11.50 to $13.50. At the midpoint of the proposed range, Secoo Holding would command a market value of $642 million and an enterprise value of $547 million.
Secoo Holding was founded in 2008 and booked $437 million in sales for the 12 months ended June 30, 2017. It plans to list on the Nasdaq under the symbol SECO. Jefferies is the sole bookrunner on the deal. It is expected to price during the week of September 18, 2017.
