On January 17, 2020 (Friday), GC Audio Community Litchi Audio was listed and traded on the NASDAQ Global Select Market under the trading symbol "LIZI". The initial public offering price was set at US$11, and it was successfully registered in US stocks.During the listing preparation and application stages, the Asia-Pacific assessment conducted a number of assessments in accordance with the requirements of US accounting standards, including business value, employee option value (ESOP), preferred equity value (Preferred Share) and other financial derivatives Etc. The fair value assessment and update of assets.
Litchi launched its own app in 2013. Users can record and share their lives on the app. It is also known as Instagram and YouTube in the audio field. Litchi has emotions, childcare, ACG music, radio dramas, and talk shows.27 Categories of audio content. As of the first half of 2019, users uploaded a total of about 160.6 million audio programs on Litchi, with a total number of broadcasts exceeding 6.1 billion.
Litchi raised up to US$60 million in funds through its initial public offering. Citigroup acted as the lead underwriter of the litchi initial public offering, Haitong International, AMTD International,、Needham & Company、Tiger Securities, China Merchants Securities (Hong Kong), Valuable Capital and PrimeNumber Capital served as deputy underwriters.
According to the litchi prospectus, Weibo Online Investment Co., Ltd., a subsidiary of Weibo (WB.US), Green Better Limited, a subsidiary of Xiaomi (00700), and two other investors are interested in the price of the initial public offering, according to Other American depository receipts have the same conditions, and purchase US$36 million worth of American depositary receipts.
Litchi will use 40% of the net funds raised to develop innovative products, 30% to invest in the application of artificial intelligence technology, 10% to expand overseas business, and 20% to general corporate purposes.
