WiMi Hologram Cloud, a Chinese provider of holographic augmented reality software for advertising, raised $26 million by offering 4.8 million ADSs at $5.50, the low end of the range of $5.50 to $7.50, to command a market value of $325 million. The company had recently increased its proposed ADS offering to 5 million from 4 million.
WiMi Hologram Cloud plans to list on the Nasdaq under the symbol WIMI. The Benchmark Company, Valuable Capital, Maxim Group LLC, China Merchants Securities, AMTD Global Markets and BOCI Asia acted as lead managers on the deal.
