Huami, a Chinese manufacturer of wearable devices partnered with Xiaomi, announced terms for its IPO on Friday.
The Hefei, China-based company plans to raise $110 million by offering 10 million ADSs at a price range of $10 to $12. At the midpoint of the proposed range, Huami would command a fully diluted market value of $662 million.
Huami was founded in 2013 and booked $295 million in sales for the 12 months ended September 30, 2017. It plans to list on the Nasdaq under the symbol HMI. Credit Suisse, Citi and China Renaissance are the joint bookrunners on the deal. It is expected to price during the week of February 5, 2018.
