Aurora Mobile, which offers targeted mobile marketing campaigns and various app services in China, announced terms for its US IPO on Friday.
The Guangdong, China-based company plans to raise $114 million by offering 12 million shares at a price range of $8.50 to $10.50. Insiders intend to purchase $35 million worth of shares in the offering. At the midpoint of the proposed range, Aurora Mobile would command a fully diluted market value of $1.2 billion.
Aurora Mobile was founded in 2011 and booked $57 million in revenue for the 12 months ended March 31, 2018. It plans to list on the Nasdaq under the symbol JG. Goldman Sachs (Asia), Credit Suisse and Deutsche Bank are the joint bookrunners on the deal. No pricing terms were disclosed.
