Changzhou Youon Public Bicycle System is set to become the first listed bike-sharing company in China following a public float that aims to raise Rmb644.4m ($96m), valuing the company at $384m.
Subscriptions for the offering, worth a quarter of the company, begin on Monday. The shares are being offered at Rmb26.85 each.
Bike-sharing has boomed in China, with at least 10 start-ups offering services to unlock bikes via smartphones and the biggest two Mobike and ofo, building 11m bikes between them.
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