WiMi Hologram Cloud, a Chinese provider of ad services and software used in holographic augmented reality, announced terms for its IPO on Monday.
The Beijing, China-based company plans to raise $34 million by offering 4.0 million ADSs at a price range of $7.50 to $9.50. At the midpoint of the proposed range, WiMi Hologram Cloud would command a market value of $496 million.
WiMi Hologram Cloud was founded in 2015 and booked $37 million in sales for the 12 months ended March 31, 2019. It plans to list on the Nasdaq under the symbol WIMI. The Benchmark Company, Maxim Group LLC, China Merchants Securities, AMTD Global Markets, BOCI Asia, Valuable Capital, Everbright Sun Hung Kai and Axiom Capital Management are the joint bookrunners on the deal. In its most recent filing, the company removed GF Securities and added Valuable Capital.
