Jianpu Technology, which provides a platform for credit products in China, announced terms for its IPO on Friday.
The Beijing, China-based company plans to raise $214 million by offering 22.5 million ADSs at a price range of $8.50 to $10.50. At the midpoint of the proposed range, Jianpu Technology would command a fully diluted market value of $1.7 billion.
Jianpu Technology was founded in 2011 and booked $91 million in revenue for the 12 months ended June 30, 2017. It plans to list on the NYSE under the symbol JT. Goldman Sachs (Asia), Morgan Stanley, J.P. Morgan and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of November 13, 2017.
