IPOs

Chinese mobile data sharing platform uCloudlink files for a $50 million US IPO

uCloudlink, a mobile data traffic sharing marketplace in China, filed on Monday with the SEC to raise up to $50 million in an initial public offering. 

uCloudlink's platforms allow users to access mobile data traffic shared by multiple network operators (MNOs). The company's uCloudlink 1.0 platform focuses on inter-country travel and the uCloudlink 2.0 platform is aimed towards users who wish to use multiple MNOs in a single country.

The Hong Kong-based company was founded in 2014 and booked $158 million in sales for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol UCL. uCloudlink filed confidentially on May 24, 2019. I-Bankers Securities, Valuable Capital, Tiger Brokers and Loop Capital Markets are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Chinese mobile data sharing platform uCloudlink files for a $50 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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