Lingzhang Gateway (LZMH.US) IPO prices at $4-6 per share, aiming to raise $50 million.

Chinese advertising service provider Linkage Portal (LZMH.US) announced its terms for a US IPO on Wednesday, planning to issue 10 million shares of stock at a price range of $4 to $6 per share, raising $50 million. Based on the midpoint of the proposed range, Linkage Portal's fully diluted market value would be $837 million. Linkage Portal is an information technology and advertising company with operations in three vertical businesses: outdoor advertising, local life, and smart communities, which synergize with each other. In terms of outdoor advertising, the company's display network covers approximately 120 cities in China, placing ads on displays and within its SaaS software, ensuring residents come into contact with the ads each time they enter or exit community buildings or open the SaaS software. The company also partners with other outdoor advertising providers to maximize coverage. In the local life segment, Linkage Portal connects local businesses with consumers through online promotions and transactions. Additionally, the company offers smart community access and security management systems through its smart community business. Founded in 2014 and headquartered in Huzhou, China, Linkage Portal generated revenue of $78 million in the 12 months ending on December 31, 2023. The company plans to list on the Nasdaq with the stock code LZMH, with EF Hutton serving as the sole bookrunner for the transaction.