Sentage Holdings, which provides consumer loan collection, loan recommendation, and prepaid payment network services in China, filed on Monday with the SEC to raise up to $22 million in an initial public offering.
The Shanghai, China-based company plans to raise $22 million by offering 4 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Sentage Holdings would command a market value of $77 million.
Sentage is a financial service provider that offers a comprehensive range of financial services across consumer loan repayment and collection management, loan recommendation, and prepaid payment network services. For its loan repayment and collection business, the company's unique approach integrates internal and external resources under a centralized management system. As part of its strategy to diversify and expand its products and services, Sentage began offering loan recommendation and prepaid payment network services in 2019.
Sentage Holdings was founded in 2009 and booked $4 million in revenue for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol SNTG. The company filed confidentially on May 8, 2020. Network 1 Financial Securities is the sole bookrunner on the deal.
