BEIJING, Oct. 18, 2018 (GLOBE NEWSWIRE) -- Niu Technologies (“Niu” or “the Company”), the world's leading provider of smart urban mobility solutions, announced today the pricing of its initial public offering of 7,000,000 American depositary shares (“ADS”) at a price to the public of US $9.00 per ADS for a total offering size of approximately US $63,000,000, before underwriting discounts and commissions. The shares are expected to begin trading on The Nasdaq Global Market Stock Exchange on October 19, 2018 under the symbol of “NIU”. In addition, Niu has granted the underwriters a 30-day option to purchase up to 1,050,000 additional shares of ADS at the initial public offering price, less underwriting discounts and commissions.
Credit Suisse Securities (USA) LLC, Citigroup Global Markets Inc. and Needham & Company, LLC are acting as joint underwriters of this offering.
A registration statement related to these securities has been filed with, and declared effective by, the United States Securities and Exchange Commission on October 18, 2018. This press release shall not constitute an offer to sell or a solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About NIU
As the world's leading provider of smart urban mobility solutions, NIU designs, manufactures and sells high-performance smart e-scooters. Since its founding in 2014, NIU has grown from a single product sold in China to a global brand across Europe and Asia. NIU has a streamlined product portfolio consisting of three series, N, M and U, with multiple models or specifications for each series. NIU’s streamlined product portfolio that addresses the needs of different segments of the modern urban resident, while being united through a common design language that emphasizes style, freedom and technology. NIU has adopted an omnichannel retail model, integrating the offline and online channels, to sell our products and provide services. NIU has received numerous prestigious international design awards, including the German Red Dot and IF, the United States iDEA, the Japanese G-Mark, and the Chinese Red Star. For more information, please visit www.niu.com.
Safe Harbor Statement
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to” and similar statements. Statements that are not historical facts, including statements about NIU’s beliefs, plans and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in NIU’s filings with the SEC. All information provided in this press release is as of the date of this press release, and NIU does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
Investor Relations Contacts:
NIU
Investor Relations Manager
Jason Yang
E-mail: ir@niu.com
Or
The Blueshirt Group
Gary Dvorchak, CFA
E-mail: gary@blueshirtgroup.com