Lemeng Holdings, which provides mobile advertising services in China, announced terms for its IPO on Monday. In its latest filing, the company also disclosed financials for the year ended December 31, 2022, and replaced sole bookrunner The Benchmark Company with Prime Number Capital.
The Beijing, China-based company plans to raise $20 million by offering 4 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Lemeng Holdings would command a market value of $100 million.
Lemeng Interactive provides custom mobile advertising services using a proprietary DSP programmatic advertising platform that centralizes and aggregates ad slot purchasing in various media forms from multiple sources. The company is also able to provide customized full-service solutions to help companies carry out precise marketing plans. Lemeng aims to attract clients from four areas: app development, banking, telecommunications, and mobile game development.
Lemeng Holdings was founded in 2014 and booked $75 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol LIAI. Prime Number Capital is the sole bookrunner on the deal.
