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Public Bicycle and Dockless Bike-sharing Service Youon to Raise RMB 581 Mln in IPO

Youon, 8/16/17

Changzhou-based Youon Public Bicycle System, operator of mobile bike sharing app Youon, recently announced that it will list on the Shanghai Stock Exchange on August 17 under the name "You'an Xing" and ticker number 603776. Youon plans to issue RMB 24 mln shares, amounting to a 25% equity stake, priced at RMB 26.85 per share to raise net proceeds of RMB 580.88 mln.

Youon primarily develops, markets, manufactures, and operates public bicycle systems based on Internet and big data analysis technologies, according to the company's prospectus.

Youon also announced its unaudited financial data for H1 2017, with revenue reaching RMB 474.46 mln, up 43.46% YoY.

Net profit attributable to shareholders was RMB 61.35 mln, up 20.99% YoY.

Keywords: IPO wireless Youon Youon Public Bicycle bicycle sharing

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