Huami Corporation (HMI) plans to raise $110 million in an initial public offering on Thursday, February 8th, IPO Scoop reports. The company will be issuing 10,000,000 shares at a price of $10.00-$12.00 per share.
In the last twelve months, Huami Corporation generated $302.2 million in revenue and $21.9 million in net income. Huami Corporation has a market cap of $653.8 million.
Credit Suisse, Citigroup and China Renaissance served as the underwriters for the IPO.
Huami Corporation provided the following description of their company for its IPO: “We are a biometric and activity data-driven company with significant expertise in smart wearable technology. We believe we have one of the largest biometric and activity databases in the global smart wearable devices industry. Our mobile apps, Mi Fit and Amazfit, work hand in hand with our smart wearable devices and provide users with comprehensive view of their biometric and activity data and the relevant analytics. As of September 30, 2017, our mobile apps had 49.6 million registered users. With a broad set of biometric and activity data from a large number of users, we are well-positioned to expand the application scenarios for smart wearable technology and drive innovations. We have been the sole partner of Xiaomi to design and manufacture Xiaomi Wearable Products. “.
Huami Corporation was founded in 2014 and has 416 employees. The company is located at Building H8, No. 2800, Chuangxin Road, Hefei, 230088, People’s Republic of China and can be reached via phone at +86 551-65837200. or on the web at http://www.huami.com.
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