EHang Holdings, which develops and manufactures drones for recreational and commercial uses in China, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The Guangzhou, China-based company was founded in 2014 and booked $61 million in sales for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol EH. It had been on our Private Company Watchlist since March 2019. Morgan Stanley and Credit Suisse are the joint bookrunners on the deal. No pricing terms were disclosed.
Investment Disclosure: Renaissance IPO ETF (symbol: IPO) Renaissance International ETF (symbol: IPOS)
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