Chinese E-learning Firm IHuman Files For US IPO

E-learning company iHuman Inc filed for a U.S. listing on Tuesday, joining a string of recent initial public offerings by Chinese firms even as tensions between Beijing and Washington escalate.

iHuman, which offers products including games, audio books and e-learning apps, joins other Chinese companies like electric vehicle maker Xpeng Inc, whose shares popped in their U.S. market debut, and voice-chat app Yalla Group Ltd, which has also filed for a U.S. listing.

iHuman plans to use about 35% of proceeds from the offering to expand its products and services, both within China and overseas.

It intends to list its American Depository Shares on the New York Stock Exchange under the symbol “IH”, it said in a regulatory filing https://www.sec.gov/Archives/edgar/data/1814423/000104746920004786/a2242270zf-1.htm#ca72901_prospectus_summary.

Credit Suisse Securities (USA) and Citigroup Global Markets are among the underwriters for the offering.

Reuters