Chinese fund manager Cornerstone Management sets terms for $20 million US IPO

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Cornerstone Management, a China-based private equity fund manager, announced terms for its IPO on Friday.

The Guangzhou, China-based company plans to raise $20 million by offering 5 million shares at a price range of $4 to $4. At the midpoint of the proposed range, Cornerstone Management would command a fully diluted market value of $614 million.

Cornerstone Management was founded in 2015 and booked $26 million in revenue for the 12 months ended June 30, 2018. It plans to list on the Nasdaq under the symbol CSCA. ViewTrade is the sole bookrunner on the deal.

The article Chinese fund manager Cornerstone Management sets terms for $20 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO) , Renaissance International ETF (symbol: IPOS) , or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

This article appears in: News Headlines , IPOs

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