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Hong Kong based Fit Boxx Files for US IPO

29Dec By Gauri SinghNo Comments

Market

Hong Kong based Fit Boxx Files for US IPO

China's Fit Boxx Holdings, which sells beauty, fitness and health care products and devices, is looking forward to raise about $20 million in an initial public offering (IPO) on the US stock market. The company is planning to offer its IPO of 2,500,000 ordinary shares (or 2,875,000 ordinary shares if the underwriters exercise their over-allotment option in full) at a price range of $7.50 to $8.50 apiece. The company anticipates to be listed on the Nasdaq under the ticker symbol of "FBOX." WestPark Capital is the sole bookrunner on the deal. Founded in 2009, the Hong Kong-based company is specialized in the sourcing, marketing, selling and distribution of a variety of beauty device products and fitness and health care products, which are mainly for home use, under various bra...

China’s Tencent Music Secures $1.1 Billion in US IPO

12Dec By Gauri SinghNo Comments

Market

China’s Tencent Music Secures $1.1 Billion in US IPO

China’s largest streaming company, Tencent Music has raised $1.1 billion in a U.S. IPO after it priced its shares at $13 a piece ahead of a listing on the Nasdaq. This development makes it one of the largest tech listings of the year, but the pricing is at the bottom end of its $13-$15 range indicating that the much-anticipated IPO has felt the effects of an uncertain market. The company is said to have paused the listing process, which it started in early October, for a time so choppy are the waters right now — and that’s not even mentioning a shareholder-led lawsuit that was filed last week. The company operates a constellation of music streaming services in China which span orthodox Spotify-style streaming as well as karaoke and live-streaming se...

China’s Largest Music-Streaming Company Files For US IPO

3Oct By Gauri SinghNo Comments

Market

China’s Largest Music-Streaming Company Files For US IPO

China’s largest music-streaming company Tencent Music Entertainment Group has filed an initial public offering (IPO) in the United States under the symbol "TME". This is expected to be the biggest US IPO by a Chinese company. The company is expecting a valuation of about $25 billion. It includes Spotify-like digital streaming apps QQ Music, Kugou and karaoke app WeSing. The music company is expecting to raise an amount in its first IPO filings which is used to calculate registration fees. The final size of the IPO could be different. Market leader Spotify debuted in April and its shares rose nearly 13% on the first trading day. The company also reported a profit of $263 million on a revenue of $1.30 billion for six months ended June 30. Tencent owns 58.1% stake in Tencent Music, a...

China’s Douyu Plans US IPO to Raise Millions of Funds

23Jul By Gauri SinghNo Comments

Market

China’s Douyu Plans US IPO to Raise Millions of Funds

Douyu, China’s game streaming company has plans to raise around $600-$700 million through a US initial public offering (IPO) by cashing in on the esports phenomenon that is firmly holding the attention of the Chinese population. The Chinese entertainment platform offers in-game live streaming, where viewers can watch players play live or live recorded videos. According to the sources, the leading game streaming platform had been considering a Hong Kong listing early this year but has now shifted its interest towards a US IPO. The Tencent-backed company was founded in 2014, and since then has emerged into a unicorn with a valuation of over 20 billion yuan ($2.95 billion). The latest funding round of the company worth $630 million led by Tencent was held in March this year. The comp...