Lucas GC, which provides online recruiting and outsourcing services in China, announced terms for its IPO on Wednesday.
The Beijing, China-based company plans to raise $6 million by offering 0.8 million shares at a price range of $8 to $9. At the midpoint of the proposed range, Lucas GC would command a market value of $338 million. The IPO float is just 1.9% of basic shares outstanding.
Initially focused as a recruitment assistance company, Lucas GC has since expanded to offer one of the first AI+ recruitment platforms in China. The company currently operates two platforms, Columbus and Star Career, which provide recruitment services, outsourcing services, and other services such as information technology and training. As of June 30, 2022, Lucas GC had a total of 382,650 active registered users.
Lucas GC was founded in 2011 and booked $102 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol LGCL. The Benchmark Company and Valuable Capital are the joint bookrunners on the deal.
