Zhihu Raises $772M From IPO, Private Placement At $9.5 Per Share

Chinese online content community Zhihu Inc ZH priced 55 million shares at $9.5 per share in its initial public offering (IPO) to raise gross proceeds of $522.5 million.

• Two ADSs represent one Class A ordinary share company share. The shares will begin trading on the NYSE under the ticker symbol "ZH" today.
• The underwriters have a 30-day option to purchase additional shares up to 8.25 million.
• Credit Suisse Securities (USA) LLC, Goldman Sachs (Asia) L.L.C., and J.P. Morgan Securities LLC are the joint representatives of underwriters and lead joint bookrunners for the offering.
• Certain investors will purchase $250 million shares, including $100 million by Alibaba Group Holding Ltd BABA affiliate Taobao China Holding Limited, $100 million by JD.Com Inc JD affiliate Purus Innovation Limited, $30 million by Zhihu stakeholder and Tencent Holdings Ltd TCEHY affiliate Image Frame Investment (HK) Limited, and $20 million by Lilith Games affiliate Lilith Limited in private placement transactions.