Credit: Shutterstock photo111, which runs an online retail drugstore and healthcare platform in China, announced terms for its IPO on Wednesday.
The Shanghai, China-based company plans to raise $140 million by offering 9.3 million shares at a price range of $14 to $16. Insiders intend to purchase $20 million worth of shares in the offering (14% of the deal). At the midpoint of the proposed range, 111 would command a fully diluted market value of $1.5 billion and an enterprise value of $1.4 billion.
111 was founded in 2010 and booked $184 million in revenue for the 12 months ended June 30, 2018. It plans to list on the NYSE under the symbol YI. J.P. Morgan, Citi and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.
The article Chinese online pharmacy 111 sets terms for $140 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
