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Chinese Q&A Online Platform Provider ZHIHU Set Terms for $578 Million US IPO

Esther Thin

Zhihu Inc, a Q&A online platform in China, has filed Amendment No 1 to Form S-1 Registration Statement on March 19, 2021 with the U.S. Securities and Exchange Commission to announce terms for its IPO.

The company plans to raise $578 million by offering 55 million shares at a price range of $9.50 to $11.50. Assuming a successful IPO at the midpoint of the proposed price, the company expects a market capitalization of $6.2 billion.

The company is the largest Q&A-inspired online community and one of the top five comprehensive online content communities in China, both in terms of average mobile MAUs and revenue in 2020, according to CIC.

The Beijing, China-based company was founded in 2010 and booked $209 million in revenue for the 12 months ended December 31, 2020. It plans to list on the NYSE under the symbol “ZH.” Credit Suisse, Goldman Sachs (Asia), and J.P. Morgan are underwriters of the IPO.

The company engages Skadden, Arps, Slate, Meagher & Flom LLP as US Securities Counsel, and PricewaterhouseCoopers Zhong Tian LLP as Independent Auditor.

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