Boqii Holding, China's largest pet-focused online retailer, announced terms for its IPO on Tuesday.
The Shanghai, China-based company plans to raise $77 million by offering 7 million ADSs at a price range of $10 to $12. At the midpoint of the proposed range, Boqii Holding would command a fully diluted market value of $998 million.
Boqii provides a one-stop destination for pet owners in China. It is the country's largest pet-focused platform by revenue and number of customers, its largest pet-focused online retailer by GMV, and its largest pet-focused online community by registered users. The company offers customers access to 17,853 SKUs as of June 30, 2020, and it delivered more than 43.2 million online orders to its customers from its inception through June 30, 2020.
Boqii Holding was founded in 2008 and booked $121 million in revenue for the 12 months ended June 30, 2020. It plans to list on the NYSE under the symbol BQ. Roth Capital, CMB International Capital and Valuable Capital are the joint bookrunners on the deal.
The article Pet-focused online retailer Boqii Holding sets terms for $77 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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