Xuhang Holdings, a Chinese provider of marketing services with a focus on new media content, filed on Friday with the SEC to raise up to $92 million in an initial public offering.
Leveraging its PRC subsidiaries' expertise in content production and operation, extensive distribution channels, and cross-platform new media account base, Xuhang provides integrated marketing solutions that address customers' marketing needs in the context of the new media era. Customers utilize the company's marketing services to achieve their branding and marketing goals across multiple channels, with a primary focus on we-media platforms such as WeChat, Weibo, and Kuaishou, among others.
The Hangzhou, China-based company was founded in 2014 and booked $72 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol SUNH. Univest Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
