uCloudlink, a mobile data traffic sharing marketplace in China, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
uCloudlink's platforms allow users to access mobile data traffic shared by multiple network operators (MNOs). The company's uCloudlink 1.0 platform focuses on inter-country travel and the uCloudlink 2.0 platform is aimed towards users who wish to use multiple MNOs in a single country.
The Hong Kong-based company was founded in 2014 and booked $158 million in sales for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol UCL. uCloudlink filed confidentially on May 24, 2019. I-Bankers Securities, Valuable Capital, Tiger Brokers and Loop Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.
