Zhitong Finance App learned that Xuhang Holdings (SUNH.US), a Chinese marketing service provider focusing on new media content, announced the IPO terms last Friday. The company, headquartered in Hangzhou, China, plans to raise $11 million by issuing 2.8 million shares at a price of 4 US dollars each. Based on the proposed price, the market value of Xuhang Holdings is $0.246 billion. The shares outstanding in this IPO account for only 4.5% of the basic shares already issued.

According to data, Xuhang Holdings relies on its Chinese subsidiary's expertise in content production and operation, extensive distribution channels, and cross-platform new media account groups to provide customers with integrated marketing solutions in the context of the new media era. Customers use the company's marketing services to achieve brand and marketing goals on multiple channels, mainly focusing on self-media platforms. As of August 31, 2023, the total number of views of short videos and software articles published by the company exceeded 167 billion. The new media account base includes 539 self-operated accounts and 461 cooperative accounts.

Xuhang Holdings' 12-month revenue ended September 30, 2023 was $68 million. The company plans to list on Nasdaq under the ticker symbol “SUNH.” Univest Securities was the sole bookkeeper for this transaction.