Smart Share Global, which provides a network of mobile device charging stations in China, raised $150 million by offering 17.65 million ADSs at $8.50, below the range of $10.50 to $12.50, based on an F-1MEF form filed with the SEC. Existing shareholders Hillhouse Capital and Xiaomi as well as new investor Aspex Master Fund had previously indicated on buying up to $110 million of the IPO.
Smart Share Global, operating under the name Energy Monster, offers mobile device charging service through a 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 plans to list on the Nasdaq under the symbol EM. Goldman Sachs, Citi and China Renaissance acted as lead managers on the deal.
