UTime, a mobile phone and electronics manufacturer in China, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $5. At pricing, the company commands a market value of $33 million. Because its market cap is less than $50 million, UTime will be excluded from Renaissance Capital's stats.
UTime plans to list on the Nasdaq under the symbol UTME. Boustead Securities, Brilliant Norton Securities, and Fosun Hani Securities acted as lead managers on the deal.
