Youdao, which provides learning products and services for all age groups in China, filed on Monday with the SEC to raise up to $300 million in an initial public offering.
The Hangzhou, China-based company was founded in 2006 and booked $134 million in revenue for the 12 months ended June 30, 2019. It plans to list on the NYSE under the symbol DAO. Youdao filed confidentially on July 11, 2019. Citi, Morgan Stanley, CICC, Credit Suisse and HSBC Corporation are the joint bookrunners on the deal. No pricing terms were disclosed.
