The home IoT platform floated at the foot of its range to raise almost $103m, while Xiaomi will retain a 16.4% stake in the company.
Viomi Technology, a China-based internet-of-things (IoT) technology provider backed by consumer electronics producer Xiaomi, has secured almost $103m in an initial public offering on the Nasdaq Stock Market.
The company priced 11.4 million American depositary shares (ADSs) at $9.00 each, at the foot of the IPO’s $9 to $11 range. It floated on Tuesday and its shares closed back at $9.00 yesterday, giving it a $812m market cap according to Marketwatch.
Viomi has developed a home IoT platform with…
