Kingtone Wirelessinfo Solution Holding, which offers mobile enterprise solutions to business and government agencies in China, announced terms for its IPO on Thursday. The Shaanxi Province-based company plans to raise $30 million by offering 4.6 million ADSs at a price range of $6-$7. At the mid-point of the proposed range, Kingtone will command a market value of $95 million. Kingtone, which was founded in 2009 and booked $11 million in sales for the 12 months ended November 2009, plans to list on the NASDAQ under the symbol KONE. Roth Capital is the lead underwriter on the deal, for which timing was not disclosed.
