Sina Technologies News Beijing time October 20 morning news, Titanium is a financial technology company headquartered in China, through the combination of business partners and financial partners, to provide financial services for end users. In July this year, the company announced that it intends to conduct initial public offerings (IPO) in the NASDAQ Global market. The company recently supplemented its IPO information in a supplementary initial public offering filing with the Securities and Exchange Commission (SEC).
According to the latest supplementary document, Titanium Technologies said the IPO price range will be between $10 and $12 and will issue 3.725 million U.S. depositary shares (ADS). Titanium is expected to raise about $30.8 million in net initial public offerings after deducting the offering price, Commission and other charges at the mid-price of $11 per share. If the Underwriters choose to subscribe all the allotment shares, the net capital raised can reach US $36 million 500 thousand.
The latest documents also show that the company's total revenue in the first half of this year (as of June 30) was 577 million yuan ($87 million), up 232% from 174 million yuan a year earlier. Net income in the first half of 2018 was 12.386 million yuan ($1.872 million), turning into profit from losses in the same period last year.
Titanium will be listed under the stock code PT and the IPO's main Underwriters will be Goldman Sachs, Deutsche Bank and Citibank. The company said the IPO was aimed at creating benefits for all shareholders, retaining talented employees through equity incentives and raising additional funds. The company plans to raise funds for investment in product development, sales and marketing activities, technical infrastructure, capital expenditure and other general and administrative expenses. In addition, the company will repay $10 million in loans to shareholders and buy a small loan license for $10 million.
In addition, according to foreign media reports, Titanium products technology may be formally listed in the week of October 22, 2018 (next week). (wood)
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