Molecular Data, which offers e-commerce and software solutions to the Chinese chemicals industry, announced terms for its IPO on Friday. In its latest filing, the company also added Tiger Brokers and Guotai Junan Securities as underwriters.
The Shanghai, China-based company plans to raise $69 million by offering 11.5 million ADSs at a price range of $5 to $7. At the midpoint of the proposed range, Molecular Data would command a fully diluted market value of $764 million.
Molecular Data was founded in 2018 as a subsidiary of MOLBASE and booked $1.7 billion in revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol MKD. AMTD Global Markets, Fosun Hani Securities, and Boustead Securities are the joint bookrunners on the deal.
