Bloomberg: Jinshan cloud plans to set the IPO price at the top of the guidance range


Sina Technology News Beijing time on the evening of May 7, according to foreign media reports, people familiar with the matter said that jinshanyun has informed potential investors that it plans to set its IPO (initial public offering) price at the first half of $16 to $18 (that is, $17 to $18), because the IPO attracted strong interest from investors.
On April 17 this year, jinshanyun submitted an IPO prospectus to the US Securities and Exchange Commission, seeking to be listed on the Nasdaq Stock Exchange under the code of “KC”. Its underwriters include JPMorgan Chase, UBS, Credit Suisse and CICC.
On May 4, jinshanyun updated its prospectus, saying it would issue 25 million American Depository shares (ads), each equivalent to 15 ordinary shares. In addition, the underwriters of the IPO can purchase up to 3.75 million additional ADSS.
At that time, jinshanyun predicted that the IPO price would be between $16 and $18 per ads. Due to strong market demand, Jinshan cloud plans to set its offering price in the first half of the price range, people familiar with the matter said today. People familiar with the matter also said the IPO could be expanded.
Before the Underwriters exercise the over allotment rights, the IPO scale of Jinshan cloud will reach 450 million US dollars based on 25 million ads and the highest price of 18 US dollars per share. Jinshanyun is expected to set the IPO price after the closing of New York stock market on Thursday.
Jinshanyun has not commented on this.
According to the updated IPO documents of Jinshan cloud, the company’s current shareholders, Jinshan Group and Xiaomi company, have expressed their interest in purchasing up to $25 million and $50 million of Jinshan cloud ads at the IPO price, respectively. In addition, carmignac Gestion and its affiliates also intend to purchase $50 million of Jinshan cloud ads. (Li Ming)