China’s Viomi Technology Raises $102.6 million on its Debut on Nasdaq
China-based IoT home platform company Viomi Technology has debuted on the Nasdaq stock exchange trading under the ticker symbol of "VIOT”. The company has raised about $102.6 million on its debut in IPO.
It priced its initial public offering (IPO) of 11.4 million American Depositary Shares (ADSs) at $9.00 per ADS. Each ADS represents three of the company's Class A ordinary shares. The underwriters for the Xiaomi-backed company’s IPO include Morgan Stanley and China International Capital Corporation Hong Kong Securities.
"By listing on the Nasdaq, Viomi hopes to better focus on the development of home appliance technology and further expand brand awareness, as Nasdaq is known as a tech-heavy stock exchange," Xiaoping Chen, co-founder and chief executive officer of Viomi said.
The compa...