Gridsum Holding (GSUM) IPO Opens Up 17%
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Today's IPO for Gridsum Holding Inc. (NASDAQ: GSUM) opened for trading at $15.25 after pricing its initial public offering of 6,700,000 American depositary shares (ADSs) was priced at US$13.00 per ADS.
Goldman Sachs (Asia) L.L.C., Citigroup Global Markets Inc. and Stifel, Nicolaus & Company, Incorporated acted as joint bookrunners for the offering.
Gridsum Holding Inc. is a leading provider of sophisticated data analysis software for multinational and domestic enterprises and government agencies in China. Gridsum’s suites of solutions, based on its proprietary distributed data architecture and core technology, the Gridsum Big Data Platform, efficiently collect and analyze data from approximately 61 million internet and mobile sessions per day from users operating on over 233 million desktop and mobile devices. This enables Gridsum’s customers to identify complex relationships within their data and gain new insights that help them make better business decisions. The Company is named “Gridsum” to symbolize the combination of distributed computing (Grid) and analytics (sum). As a digital intelligence pioneer, the Company’s mission is to help enterprises and government organizations in China use data in new and powerful ways to make better informed decisions and be more productive.
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