CLPS, which provides professional IT services to financial firms in China, announced terms for its IPO on Tuesday.
The Shanghai, China-based company plans to raise $10.5 million by offering 2.0 million shares at a price range of $5.00 to $5.50. At the midpoint of the proposed range, CLPS would command a market value of $70 million.
CLPS was founded in 2005 and booked $37 million in sales for the 12 months ended December 31, 2017. It plans to list on the Nasdaq under the symbol CLPS. Benchmark is the sole bookrunner on the deal. It is expected to price during the week of May 21, 2018.
