Smart Share Global, which provides a network of mobile device charging stations in China, filed on Friday with the SEC to raise up to $100 million in a US initial public offering.
Smart Share Global, operating under the name Energy Monster, is a consumer tech company providing mobile device charging service through an extensive online and offline network in China. The company provides service through its power banks, which are operated by location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs, and public spaces. Users rent the power banks to carry with them and can return the power banks at a network of 664,000 locations that cover over 1,500 regions in China. Smart Share Global had roughly 219 million cumulative registered users as of December 31, 2020.
The Shanghai, China-based company was founded in 2017 and booked $433 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol EM. Goldman Sachs, Citi, China Renaissance and BOCI Asia are the joint bookrunners on the deal. No pricing terms were disclosed.
