Yintech Investment Holdings, which operates an online brokerage for spot trading precious metals in China, announced terms for its IPO on Tuesday.
The Shanghai, China-based company plans to raise $101 million by offering 7.5 million shares at a price range of $ 12.50 to $14.50. At the midpoint of the proposed range, Yintech Investment Holdings would command a fully diluted market value of $ 837 million.
The company notes that it competes with NetEase (Nasdaq: NTES).
Yintech Investment Holdings was founded in 2011 and booked $192 million in revenue for the 12 months ended December 31, 2015. It plans to list on the Nasdaq under the symbol YIN. Jefferies is the sole bookrunner on the deal. It is expected to price during the week of April 25, 2016.