AnPac Bio-Medical Science, a Chinese provider of multi-cancer screening tests, announced terms for its US IPO on Friday.
The Lishui, China-based company plans to raise $22 million by offering 1.7 million ADSs at a price range of $12 to $14. Insiders intend to purchase $2 million worth of shares in the offering. At the midpoint of the proposed range, AnPac Bio-Medical Science would command a market value of $150 million.
AnPac Bio-Medical Science was founded in 2008 and booked $2 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol ANPC. WestPark Capital and Univest Securities are the joint bookrunners on the deal, with Univest being added as of the most recent filing.
