Chinese Leading Edutainment Company iHuman Inc. Announces Pricing of IPO
2020-10-10 00:15:02

iHuman(the “Company”), a Chinese leading childhood edutainment company, announces today the pricing of its initial public offering of 7,000,000 American Depositary Shares (“ADSs”), each representing five Class A ordinary shares of the Company, at a public offering price of US$12.00 per ADS. 

The ADSs are expected to begin trading on the New York Stock Exchange on October 9 2020, under the ticker symbol “IH”. The offering is expected to close on October 14, 2020, subject to customary closing conditions.

On October 5, the Company updated its prospectus, showing that the price per share will be between US$11 and US$13, and iHuman will raise a maximum amount of US$91 million based on the upper limit.

The prospectus also shows that the company plans to use approximately 35% of the net proceeds for expanding product and service offerings, both domestically and overseas; about 25% for the development of existing products and services; approximately 20% for improving technology infrastructure; and approximately 10% for marketing and brand promotions. 

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According to the report from Frost&Sullivan, in the first half of 2020, iHuman ranked first in the number of paying users and the number of monthly active users (MAU) among Chinese childhood online edutainment service providers.

Facing the large space of the childhood education market, iHuman stated that it would expand its coverage of products and services in the next step. Meanwhile, the Company will enrich the content of existing products and services, such as introducing more learning materials, to make online learning applications more fun and exciting. 

Besides, iHuman emphasizes improving content development and interaction capabilities by using AR, VR, and other technologies.

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