The SIG China-backed mobile app developer raised $52.2m despite floating at the bottom of the IPO's range.

CooTek, a China-based mobile app developer that counts technology and trading group Susquehanna International Group (SIG) as an investor, has floated in the US in a $52.2m initial public offering.

The company issued 4.35 million American Depositary Shares (ADSs) on the New York Stock Exchange priced at $12.00 each, at the bottom of the IPO’s $12 to $14 range. Each ADS represents 50 ordinary shares.

CooTek’s lead product is TouchPal Smart Input, an input tool for mobile devices that…

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Robert Lavine

Robert Lavine is special features editor for Global Venturing.
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