Huge Amount Group, which provides mobile advertising services in China, announced terms for its IPO on Friday.
The Xiamen, China-based company plans to raise $10 million by offering 2 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Huge Amount Group would command a market value of $73 million.
Through its PRC operating entities, the company provides mobile advertising services in China, covering a wide spectrum including the creation of mobile advertising plans, placement of ads on media platforms, monitoring of ad performance data, and optimization of ad placement strategies. It also provides advertising agent services. Since launching its mobile advertising business in 2020, the company has served approximately 280 advertisers.
Huge Amount Group was founded in 2015 and booked $154 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol OCP. Univest Securities is the sole bookrunner on the deal.
