IPOs

Chinese cancer diagnostics provider AnPac Bio-Medical Science sets terms for $22 million US IPO

AnPac Bio-Medical Science, a Chinese provider of multi-cancer screening tests, announced terms for its US IPO on Friday.

The Lishui, China-based company plans to raise $22 million by offering 1.7 million ADSs at a price range of $12 to $14. Insiders intend to purchase $2 million worth of shares in the offering. At the midpoint of the proposed range, AnPac Bio-Medical Science would command a market value of $150 million.

AnPac Bio-Medical Science was founded in 2008 and booked $2 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol ANPC. WestPark Capital and Univest Securities are the joint bookrunners on the deal, with Univest being added as of the most recent filing.

The article Chinese cancer diagnostics provider AnPac Bio-Medical Science sets terms for $22 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.

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