Happiness Biotech Group, a China-based nutraceutical and herbal dietary supplements producer, announced terms for its IPO on Friday.
The Nanping, China-based company plans to raise $13 million by offering 2.4 million shares (17% insider) at a price range of $5 to $6. At the midpoint of the proposed range, Happiness Biotech Group would command a market value of $138 million.
Happiness Biotech Group was founded in 2004 and it plans to list on the Nasdaq under the symbol HAPP. Univest Securities is the sole bookrunner on the deal.
