Onion Global, a Chinese e-commerce platform using influencers to sell lifestyle brands in Asia, raised $68 million by offering 9.3 million ADSs at $7.25, the low end of the range of $7.25 to $9.25. The company offered 3.2 million fewer ADSs than anticipated.
Onion Global states that it is a next-generation lifestyle brand platform that incubates, markets, and distributes "3F brands" to young people in China and across Asia. The company currently has 4,001 brands on its platform, including 86 brand partners, that offer 23 categories of lifestyle products, including beauty products, maternal and baby products, food & beverages, fast fashion, and wellness products.
Onion Global plans to list on the NYSE under the symbol OG. AMTD Global Markets, Huatai Securities, Roth Capital, Tiger Brokers and Valuable Capital acted as lead managers on the deal.
