Bilibili, which provides an anime-themed video sharing and mobile gaming platform in China, announced terms for its IPO on Friday.
The Shanghai, China-based company plans to raise $483 million by offering 42 million ADSs at a price range of $10.50 to $12.50. At the midpoint of the proposed range, Bilibili would command a market value of $3.2 billion. Each ADS is equivalent to one Class Z ordinary share.
Bilibili was founded in 2008 and booked $395 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol BILI. Morgan Stanley, BofA Merrill Lynch and J.P. Morgan are the joint bookrunners on the deal. It is expected to price during the week of March 26, 2018.
