JuNeng Technology, which provides digital marketing solutions to advertisers in China, raised the proposed deal size for its upcoming IPO on Thursday.
The Chongqing, China-based company now plans to raise $28 million by offering 6.3 million shares at a price range of $4 to $5. The company had previously filed to offer 2 million shares at the same range. At the midpoint, JuNeng Technology will raise 213% more in proceeds than previously anticipated and command a market cap of $163 million (+13% versus previous terms).
Through its operating entity, JuNeng Technology provides digital marketing solutions in China, catering to customers in a variety of industries. JuNeng utilizes its proprietary "Lucky Short Video Intelligent Data Analysis System" to examine the efficiency of different visual elements used in short video ads. The company has developed partnerships with authorized third-party agents of leading media platforms, such as Tencent and ByteDance, through which it places ads for its customers.
JuNeng Technology was founded in 2020 and booked $13 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol NENG. Pacific Century Securities is the sole bookrunner on the deal.
