Mining machine manufacturer Ebang International announces IPO terms, plans to raise $106 million

According to the Nasdaq website, Chinese mining machine manufacturer Ebang International Holdings announced its latest IPO terms on Wednesday. In the latest application documents, the company chose Nasdaq as its listing exchange and added Prime Number Capital as an underwriter.

The company plans to issue 19.3 million shares to raise $106 million at a price between $4.50 and $6.50. At the midpoint of the proposed range, Ebang International Holdings' market value would reach $721 million. Ebang International Holdings was founded in 2010 and had revenue of $109 million from December 31, 2018 to December 31, 2019. The stock code is EBON. Ebang International has previously tried to apply for a listing in Hong Kong several times, but all attempts were unsuccessful.