Global Internet of People, an online peer-to-peer knowledge sharing and enterprise service platform in China, decreased the proposed share offering and increased the proposed price point for its upcoming IPO on Monday. In its latest filing, the company also disclosed financials for the year ended December 31, 2019, and selected a new ticker.
The Beijing, China-based company now plans to raise $21 million by offering 4.2 million shares at $5. The company had previously filed to offer 5 million shares at $4. At the new proposed price point, Global Internet of People will raise 5% more in proceeds than previously anticipated, but will cut its proposed market value by 20% to $105 million.
Global Internet of People was founded in 2014 and booked $18 million in revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol SDH. ViewTrade is the sole bookrunner on the deal
