The company plans to raise the capital by offering 10 million American depositary shares (ADSs) at a price range of 11.50 dollars to 13.50 dollars, according to its latest prospectus submitted to the U.S. Securities and Exchange Commission (SEC).
An ADS is a U.S. dollar-denominated equity share of a foreign-based company for purchase on a U.S. stock exchange.
At the midpoint of the proposed range, Ruhnn Holding would command a fully diluted market value of 1.0 billion dollars, according to a company statement on Friday. It plans to list on the Nasdaq under the symbol RUHN.
Citi and UBS Investment Bank are the joint bookrunners on the deal.
The company filed with the SEC for an IPO on the U.S. stock markets on March 6.
The company focuses on building a key opinion leader (KOL) ecosystem in China by connecting a large number of KOLs and their fans to create a vast network and connecting this network to a large number of businesses, including brands, online retailers, designers, manufacturers and suppliers, said the prospectus.
Founded in 2016, Ruhnn Holding is based in Hangzhou, capital city of eastern China's Zhejiang Province. It booked 157 million dollars in revenue for the 12 months that ended Dec. 31, 2018.
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