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Chinese pet service provider New Ruipeng Pet Group (RPET) has requested an initial public offering of US$100 million.
New Ruipeng did not specify in your presentation how many American Depositary Shares intends to offer or the price, but indicated on your filing fee schedule that it was looking to raise $100 million, a number that is likely a placeholder and is subject to change.
The company has applied to list its shares on Nasdaq under the symbol RPET. Book brokers include Morgan Stanley, Credit Suisse, CICC, and UBS Investment Bank.
Incorporated in the Cayman Islands, New Ruipeng runs a pet supply and service platform in China. The company operated 1,942 pet hospitals in the country as of the end of September 30 and offers continuing education for veterinarians. It also offers supplies and services for pets through its Rvet portal and JackPet physical stores.
The company has been operating in the red. For the nine-month period ended September 30, New Ruipeng posted a net loss of $156 million on revenue of $607 million.
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