AiHuiShou International, a Chinese pre-owned consumer electronics transactions and services platform, announced terms for its IPO on Friday.
The Shanghai, China-based company plans to raise $227 million by offering 16.2 million ADSs at a price range of $13 to $15. Insiders intend to purchase $100 million worth of ADSs in the offering. At the midpoint of the proposed range, AiHuiShou International would command a fully diluted market value of $3.6 billion.
AiHuiShou International provides a digitally-enabled infrastructure for pre-owned consumer electronics transactions and services with a strong focus in mobile phones. The company operates Paijitang Marketplace, China's leading B2B marketplace for trading electronic products and services and Paipai Marketplace, a retail marketplace for pre-owned products of certified quality which was acquired from JD Group in 2019. The company claims to have been the largest pre-owned consumer electronics platform in China by GMV in 2020.
AiHuiShou International was founded in 2011 and booked $889 million in revenue for the 12 months ended March 31, 2021. It plans to list on the NYSE under the symbol RERE. Goldman Sachs, BofA Securities, China Renaissance, Guotai Junan Securities, CITIC CLSA, Tiger Brokers, CMB International Capital, and Futu Securities are the joint bookrunners on the deal.
