New Frontier Corp., a Chinese blank check company formed to acquire a healthcare, technology or education business, raised the proposed deal size for its upcoming IPO on Wednesday.
The Hong Kong-based company now plans to raise $230 million by offering 23 million units at $10. Insiders intend to purchase $17 million worth of units in the offering. The company had previously filed to offer 20 million units at $10. At $10 New Frontier Corp. will raise 15% more in proceeds than previously anticipated.
New Frontier Corp. was founded in 2018 and booked and plans to list on the NYSE under the symbol NFC.U. Credit Suisse and UBS Investment Bank are the joint bookrunners on the deal
