Ruhnn Holding, an e-commerce platform used by Chinese internet celebrities to sell fashion items, announced terms for its IPO on Friday.
The Hangzhou, China-based company plans to raise $125 million by offering 10 million shares at a price range of $11.50 to $13.50. At the midpoint of the proposed range, Ruhnn Holding would command a fully diluted market value of $1.0 billion.
Ruhnn Holding was founded in 2016 and booked $157 million in revenue for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol RUHN. Citi and UBS Investment Bank are the joint bookrunners on the deal. It is expected to price during the week of April 1, 2019.
