The Alibaba, SoftBank and Xiaomi-backed mobile charger producer has floated below its range in a $150m initial public offering.

Energy Monster, the China-based power-bank leasing service backed by corporate investors Alibaba, SoftBank and Xiaomi, has raised $150m in an initial public offering on the Nasdaq Global Select Market.

The company’s holding group, Smart Share Global, priced almost 17.7 million American depositary shares (ADSs) – each representing two ordinary shares – at $8.50 each, below the $10.50 to $12.50 range set for the offering.

Founded in 2017, Energy Monster produces connected mobile charging products for use in public spaces…

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Edison Fu

Edison Fu is a reporter and Asia liaison at Global Corporate Venturing.
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