Viomi Technology, a Xiaomi-backed seller of internet-connected home appliances, announced terms for its IPO on Tuesday. The company also added Needham as an underwriter.
The Guangdong, China-based company plans to raise $114 million by offering 11.4 million ADSs at a price range of $9 to $11. At the midpoint of the proposed range, Viomi Technology would command a fully diluted market value of $732 million and an enterprise value of $596 million.
Viomi Technology was founded in 2014 and booked $239 million in sales for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol VIOT. Morgan Stanley and CICC are the joint bookrunners on the deal.
