UTime, a Chinese mobile phone and electronics manufacturer, filed on Wednesday with the SEC to raise up to $22 million in an initial public offering. The company provides cost-effective mobile devices to emerging markets such as India, South Asia, and Africa.
The Shenzhen, China-based company was founded in 2008 and booked $28 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol UTME. UTime filed confidentially on October 1, 2019. ViewTrade is the sole bookrunner on the deal. No pricing terms were disclosed.
