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Cloud-Based PaaS Provider QINIU LIMITED Files for $100 Million US IPO

Esther Thin

Qiniu Limited, a cloud-based Platform-as-a-Service ("PaaS") provider, has filed Form F-1 Registration Statement on April 30, 2021 with the U.S. Securities and Exchange Commission to raise up to $100 million IPO. Pricing terms are yet to announce.

The company focus on media and machine data, pioneering an integrated, one-stop "cloud + data" platform that empowers enterprise customers across a wide spectrum of industries. They also offer MPaaS for intelligent media solutions and Data Platform-as-a-Service, or DPaaS, for machine data solutions.

The Shanghai, China-based company was founded in 2011 and booked $174 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq Global Select Market under the symbol “QNIU.” BofA Securities, UBS Investment Bank, Jefferies, Bocom International, Futu Securities and Tiger Brokers are underwriters of the IPO.

The company engages Davis Polk & Wardwell LLP as US Securities Counsel, and KPMG Huazhen LLP as Independent Auditor.

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