Xiaomi-Backed Viomi Technology Raises $103M On Nasdaq Debut

Viomi Technology Co. Ltd., a Xiaomi-backed seller of internet-connected home appliances, has raised about US$102.6 million on its debut at the US stock market. The company offered 11.4 million American depository shares (ADSs) at US$9 apiece, the lower end of its target price range of US$9 to US$11 per share, said the company’s website. According to its prospectus filed in late August, the company had planned to raise up to US$150 million in its US IPO. Founded in 2014, Guangdong-based Viomi Technology develops an Internet of …

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