Sogou, China's second largest mobile search engine spun-out from Sohu.com, announced terms for its IPO on Friday.
The Beijing, China-based company plans to raise $540 million by offering 45 million shares at a price range of $11 to $13. At the midpoint of the proposed range, Sogou would command a fully diluted market value of $4.8 billion.
Sogou was founded in 2005 and booked $711 million in sales for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol SOGO. J.P. Morgan, Credit Suisse, Goldman Sachs (Asia) and CICC are the joint bookrunners on the deal. It is expected to price during the week of November 6, 2017.
