Zhihu sets IPO terms, as the Hong Kong-based online community looks to raise up to $633 million

Zhihu Inc. has set terms of its initial public offering in the U.S., as the Hong Kong-based Q&A-inspired online content community looks to raise up to $632.5 million. The company is offering 55 million American depositary shares, representing 27.5 million ordinary shares, in the IPO, which is expected to price between $9.50 and $11.50 a share. With 279.5 million ordinary shares expected to be outstanding after the IPO, the company could be valued at up to about $6.4 billion. The stock is expected to list on the NYSE under the ticker symbol "ZH." Credit Suisse, Goldman Sachs and J.P. Morgan are the lead underwriters. The company had 76 million monthly average users in the fourth quarter and 676 million average monthly interactions. The company recorded a net loss of RMB517.6 million ($79.3 million) on revneue of RMB1.35 billion ($207.2 million) in 2020, after a loss of RMB1.00 billion on revenue of RMB670.5 million in 2019. The company is looking to go public at a time that the Renaissance IPO ETF has slipped 1.1% year to date, while the iShares MSCI China ETF has gained 4.8% and the S&P 500 has tacked on 4.4%.

Zhihu sets IPO terms, as the Hong Kong-based online community looks to raise up to $633 million

Zhihu Inc. has set terms of its first sale of stock in the U.S., as the Hong Kong-based Q&A-motivated online substance local area hopes to raise up to $632.5 million. The organization is offering 55 million American depositary shares, addressing 27.5 million conventional offers, in the IPO, which is relied upon to cost somewhere in the range of $9.50 and $11.50 an offer. With 279.5 million standard offers expected to be exceptional after the IPO, the organization could be esteemed at up to about $6.4 billion. The stock is required to list on the NYSE under the ticker image "ZH." Credit Suisse, Goldman Sachs and J.P. Morgan are the lead financiers. The organization had 76 million month to month normal clients in the final quarter and 676 million normal month to month collaborations. The organization recorded a total deficit of RMB517.6 million ($79.3 million) on revneue of RMB1.35 billion ($207.2 million) in 2020, after a deficiency of RMB1.00 billion on income of RMB670.5 million of every 2019. The organization is hoping to open up to the world during a period that the Renaissance IPO ETF has slipped 1.1% year to date, while the iShares MSCI China ETF has acquired 4.8% and the S&P 500 has attached 4.4%.