The company plans to list on the New York Stock Exchange, with an expectation to raise up to 200 million U.S. dollars, according to its prospectus filed this week with the U.S. Securities and Exchange Commission.
Deutsche Bank Securities, CMB International Capital, Raymond James, AMTD Global Markets and SunTrust Robinson Humphrey are the joint bookrunners on the deal. No pricing terms were disclosed.
The Changsha-based company said the primary purposes of this offering are to expand its operations, attract, retain and motivate talented employees by providing them with equity incentives, and obtain additional capital.
The number of Chinese firms listed on the U.S. exchanges has increased in recent years, as more companies mull going public driven by the country's fast economic development.
A total of 43 Chinese companies were newly listed in the U.S. market last year, up from 24 in 2017 and 10 in 2016, according to financial data provider Wind.
As of Friday, the S&P U.S. Listed China 50 index, which is designed to track the performance of the 50 largest Chinese companies listed on U.S. exchanges by total market cap, stood at 2,899.42, marking a 6.27-percent increase for the month-to-date returns and a 26.54-percent gain for the year-to-date returns.
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