Genetron Holdings, which uses molecular profiling to provide diagnostic services for cancer patients in China, announced terms for its IPO on Monday.
The Beijing, China-based company plans to raise $163 million by offering 13 million ADSs at a price range of $11.50 to $13.50. Insiders intend to purchase $54 million worth of ADSs in the offering. At the midpoint of the proposed range, Genetron Holdings would command a market value of $1.1 billion.
Genetron Holdings was founded in 2015 and booked $47 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol GTH. Credit Suisse and CICC are the joint bookrunners on the deal. It is expected to price during the week of June 15, 2020.
