ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Nikkei Markets

China's Huami Expects To Raise Up To $120 Million In US IPO

By Amy Lam
Nikkei Markets
HONG KONG (Jan 29) -- Chinese smart wearable technology company Huami Corp. said it expects to raise up to $120 million in gross proceeds from an initial public offering in the U.S.

The company is offering 10 million American Depositary Shares in an indicative price range of $10 to $12 apiece, according to a filing with the U.S. Securities and Exchange Commission.

Huami makes Chinese smartphone maker Xiaomi's Mi smart wrist band, and also designs and manufactures smart wearable products under the brand Amazfit. The company reported a profit of 95.4 million yuan ($15.1 million) for the nine months ended Sep. 30 following a loss of 19.1 million yuan a year ago. Revenue for the period jumped 37% to 1.30 billion yuan.

The company expects to use proceeds from the offering for research and development, selling and marketing and general working capital, including potential acquisitions.

Huami has applied for its ADSs to be listed on the New York Stock Exchange under the symbol HMI.
- By Amy Lam; hkeditorial@nikkeinewsrise.com; +852 39605150
- Edited by Suzannah Benjamin
- Send Feedback to feedback@NikkeiNewsRise.com
- Copyright (c) 2018 Nikkei NewsRise Asia Pte Ltd.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this monthThis is your last free article this month

Stay ahead with our exclusives on Asia;
the most dynamic market in the world.

Stay ahead with our exclusives on Asia

Get trusted insights from experts within Asia itself.

Get trusted insights from experts
within Asia itself.

Try 1 month for $0.99

You have {{numberArticlesLeft}} free article{{numberArticlesLeft-plural}} left this month

This is your last free article this month

Stay ahead with our exclusives on Asia; the most
dynamic market in the world
.

Get trusted insights from experts
within Asia itself.

Try 3 months for $9

Offer ends July 31st

Your trial period has expired

You need a subscription to...

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers and subscribe

Your full access to Nikkei Asia has expired

You need a subscription to:

  • Read all stories with unlimited access
  • Use our mobile and tablet apps
See all offers
NAR on print phone, device, and tablet media

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more