UTime, a mobile phone and electronics manufacturer in China, announced terms for its IPO on Tuesday.
The Shenzhen, China-based company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, UTime would command a market value of $37 million. Because its market cap is less than $50 million, Utime no longer qualifies for RC tracking and will be excluded from our stats.
UTime was founded in 2008 and booked $27 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol UTME. ViewTrade is the sole bookrunner on the deal.
