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Chinese esports content provider and events operator NeoTV (NTV) has filed for a $55M US initial public offering.
NeoTV didn’t state how many shares it intends to offer or the price in its filing, but indicated in a filing fee schedule that it was looking to raise around $55M. Prime Number Capital is serving as lead bookrunner.
The company hopes to list its shares on Nasdaq under the symbol NTV.
Based in Shanghai but incorporated in the Cayman Islands, NeoTV conducts operations in China through a variable interest entity, or VIE, and its subsidiary NeoTV Beijing.
The company has been operating in the red. For the six-month period ended June 30, NeoTV posted a net loss of $437K on revenue of $7.2M.
In July, Indian esports company Mobile Global Esports (MGAM), also known as Mogo, raised $6M through a US IPO.
