Mobvista, a Chinese mobile advertising and overseas game publishing services provider, plans to raise $173.9 million in an upcoming initial public offering on the Hong Kong (HK) Stock Exchange.
Mobvista said that 30 percent of the net proceeds will go towards advancing the services on its mobile advertising and analytics platform.
Another 30 percent will be used to enhance the company's strength in big data and artificial information technologies and information technology infrastructure, while 20 percent will be used to make more strategic investments and purchases.
Furthermore, 10 percent will go towards implementing Mobvista's Glocal strategy by advancing its local service capabilities and extending its footprint, and lastly, 10 percent will be spent on general working capital.