Baosheng Media Group Holdings, which provides online marketing services for advertisers and media companies in China, filed on Friday with the SEC to raise up to $28 million in an initial public offering.
The Beijing, China-based company plans to raise $28 million by offering 5 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Baosheng Media Group Holdings would command a market value of $140 million.
The company advises advertisers on online marketing strategies, offer value-added advertising optimization services, and facilitate the deployment of online ads. It also helps online media companies procure advertisers to buy their ad inventory and facilitate ad deployment on their advertising channels. Its main offerings are search engine marketing services and non-search engine marketing services.
Baosheng Media Group Holdings 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 BMGH.RC. Univest Securities is the sole bookrunner on the deal.
