AiHuiShou International, a Chinese pre-owned consumer electronics transactions and services platform, raised $227 million by offering 16.2 million ADSs at $14, within the range of $13 to $15. Insiders had indicated on $100 million worth of ADSs in the offering.
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 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 acted as joint bookrunners on the deal.
