On Friday, Huge Amount Group announced the IPO terms.
Huge Amount Group, which provides mobile advertising services in China, announced the IPO terms on Friday. The company plans to issue 2 million shares of stock at a price of $4 to $6 per share, raising $10 million. Based on the midpoint of the proposed range, the market cap of Huge Amount Group will reach $73 million.
Huge Amount Group provides mobile advertising services in China through its operating entity, Xiamen Kuangshi Alliance Network Technology Co., Ltd., including developing mobile advertising plans, placing ads on media platforms, monitoring ad performance data, and optimizing ad placement strategies. The company also provides advertising agency services. Since launching its mobile advertising business in 2020, the company has served approximately 280 advertisers.
Established in 2015, Huge Amount Group had revenue of $154 million for the 12 months ended December 31, 2023. The company plans to go public on the Nasdaq with the stock code "OCP". Univest Securities is the sole book-running manager for this transaction.