Onion Global Limited (OG) plans to raise $103 million in an initial public offering on Friday, May 7th, IPO Scoop reports. The company will issue 12,500,000 shares at a price of $7.25-$9.25 per share.
In the last twelve months, Onion Global Limited generated $584 million in revenue and $31.9 million in net income. The company has a market cap of $762.6 million.
AMTD, Huatai Securities, Roth Capital Partners, Tiger Brokers and Valuable Capital served as the underwriters for the IPO.
Onion Global Limited provided the following description of their company for its IPO: “(Note: This is an IPO of 12.5 million American Depositary Shares. Each 10 ADS represents 1 Class A ordinary share. Onion Global Limited is incorporated in the Cayman Islands.) OUR MISSION: Be the dream factory of lifestyle brands for young people. We are a next-generation lifestyle brand platform that incubates, markets and distributes the world’s fresh, fashionable and future brands, which we refer to as “3F brands,” to young people in China and across Asia. Our founder and CEO Cong (Kenny) Li, an 18-year veteran at a Fortune 100 multi-national consumer goods company, created Onion with an objective to search for and create the next generation of fresh, fashionable and future brands and bring them to the young consumers in China and across Asia. (Mr. Li worked at Procter & Gamble China from 2002 to 2007 and Nike China from 2007 to 2009.) Today, the Onion global brand family is synonymous with what Kenny initially set out to build. The 4,001 brands on our platform, including 86 brand partners that directly work with us, offer 23 categories of lifestyle products, including beauty products, maternal and baby products, food & beverages, fast fashion and wellness products. Trusted by millions of users, our platform improved our users’ lives in small but meaningful ways by offering our users a wide product selection and an enjoyable online shopping experience. Our online platform disrupts the conventional lifestyle retail landscape in China by offering an integrated solution to develop, market and distribute new and inspiring branded products, thereby reshaping the lifestyle shopping and consumer culture in China. (Note: Revenue and net income figures are in U.S. dollars for 2020, according to the prospectus.) “.
Onion Global Limited was founded in 2009 and has 796 employees. The company is located at No. 309 3-05 Huangfu Avenue Zhong, Tianhe District, Guangzhou City, Guangdong Province People’s Republic of China and can be reached via phone at (+86) 020-38262863 or on the web at https://www.msyc.com/.
Receive News & Ratings for Onion Global Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Onion Global Limited and related companies with MarketBeat.com's FREE daily email newsletter.