Baosheng Media Group Holdings, which provides online marketing services for advertisers and media companies in China, raised $30 million by offering 6 million shares at $5, the low end of the range of $5 to $6. The company offered 1 million more shares than anticipated.
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 plans to list on the Nasdaq under the symbol BAOS. Univest Securities acted as a lead manager on the deal.
