China’s Viomi Technology prices $102.6 mln initial public offering

Viomi, a China-based internet of things home technology company, has priced its initial public offering of 11.4 million American depositary shares (ADSs), at $9 per ADS for a total offering size of approximately $102.6 million.

Each ADS represents three class A ordinary shares of Viomi. The ADSs are expected to begin trading on the Nasdaq Stock Market under the ticker symbol VIOT.

Viomi has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1.71 million additional ADSs at the initial public offering price, less underwriting discounts and commissions to cover over-allotments.

U.S.-based financial services company Morgan Stanley and China International Capital, Hong Kong Securities are acting as joint book-runners of this offering and as the representatives of the underwriters. Needham is acting as the co-manager of this offering.