Aspire Global, an e-cigarette and vaping brand, announced terms for its IPO on Friday.
The Shenzhen, China-based company plans to raise $120 million by offering 15 million shares at a price range of $7 to $9. At the midpoint of the proposed range, Aspire Global would command a market value of $1.3 billion.
Aspire is a vertically integrated provider of e-cigarette vaporizing technology. Its tobacco vaping products are sold through a distribution network of more than 150 distributors in 30 countries. In December 2020, the company also commenced the marketing of cannabis vaping technology products in the US.
Aspire Global was founded in 2010 and booked $82 million in sales for the 12 months ended December 31, 2020. It plans to list on the Nasdaq under the symbol ASPG. Tiger Brokers, EF Hutton, TF International, and China Merchants Securities are the joint bookrunners on the deal.
The article Chinese vaping brand Aspire Global sets terms for $120 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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