Viomi Technology (VIOT) IPO Opens Higher

Today's IPO for ​Viomi Technology Co., Ltd (NASDAQ: VIOT) opened for trading at $9.50 after pricing 11,400,000 American depositary shares (“ADSs”) at US$9.0 per ADS.

The Company has granted the underwriters an option, exercisable within 30 days from the date of the final prospectus, to purchase up to an aggregate of 1,710,000 additional ADSs at the initial public offering price, less underwriting discounts and commissions to cover over-allotments.

Morgan Stanley & Co. LLC and China International Capital Corporation Hong Kong Securities Limited are acting as joint bookrunners of this offering and as the representatives of the underwriters. Needham & Company, LLC is acting as the co-manager of this offering.

The Company has developed a unique IoT @ Home platform consisting an ecosystem of innovative IoT-enabled smart home products, together with a suite of complementary consumable products and value-added businesses. This platform provides an attractive entry point into the consumer home, enabling consumers to intelligently interact with a broad portfolio of IoT products in an intuitive and human-like manner to make daily life more convenient, efficient and enjoyable, while allowing us to grow our household user base and capture various additional scenario-driven consumption events in the home environment.

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