36KR Holdings, an online media publisher focused on New Economy companies in China, announced terms for its IPO on Monday.
The Beijing, China-based company plans to raise $58 million by offering 3.6 million ADS's at a price range of $14.50 to $17.50. Insiders intend to purchase $20 million worth of shares in the offering. At the midpoint of the proposed range, 36KR Holdings would command a fully diluted market value of $676 million. In its initial filing, the company set the estimated deal size at $100 million.
36KR Holdings was founded in 2010 and booked $61 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol KRKR. Credit Suisse, CICC, and AMTD Global Markets are the joint bookrunners on the deal. It is expected to price on Wednesday, November 6, 2019.
