China marketing service provider Xuhang Holdings (SUNH.US) IPO priced at $4 per share, planning to raise $11 million.

Focus on the Chinese marketing service provider for new media content, Sunh Holdings (SUNH.US), announced IPO terms last Friday. The company, headquartered in Hangzhou, China, plans to issue 2.8 million shares of stock at a price of $4 per share, raising $11 million. At the proposed price, Sunh Holdings has a market value of $246 million. The IPO will only account for 4.5% of the total issued shares. According to information, Sunh Holdings leverages its Chinese subsidiaries' expertise in content production and operations, extensive distribution channels, and cross-platform new media accounts to provide clients with integrated marketing solutions in the new media era. Clients use the company's marketing services to achieve branding and marketing goals across multiple channels, primarily focusing on self-media platforms. As of August 31, 2023, the company's short video and soft article views exceeded 16.7 billion times, with a foundation of 539 self-operated accounts and 461 cooperative accounts. Sunh Holdings had a revenue of $68 million for the 12 months ending September 30, 2023. The company plans to list on the Nasdaq under the stock ticker "SUNH." Univest Securities is the sole book-running manager for this transaction.