Smart Share Global, which provides a network of mobile device charging stations in China, announced terms for its IPO on Monday.
The Shanghai, China-based company plans to raise $201 million by offering 17.5 million ADSs at a price range of $10.50 to $12.50. Insiders and a new investor intend to purchase $110 million worth of ADSs in the offering. At the midpoint of the proposed range, Smart Share Global would command a fully diluted market value of $3.0 billion.
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.
Smart Share Global was founded in 2017 and booked $430 million in revenue for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol EM. Goldman Sachs, Citi, and China Renaissance are the joint bookrunners on the deal.
