Smart scooter maker Niu filed a preliminary prospectus on Nasdaq Global Market seeking a $150 million IPO. Niu (小牛)—which considers itself an IoT and big data company—has shipped its app-powered electric scooters to more than 20 countries. The company is hoping to expand production and boost its R&D, according to the prospectus filed September 24.

“We can confirm that we publicly filed a registration statement on Form F-1 with the U.S. Securities and Exchange Commission. Due to regulations in place, we’re unable to comment further,” a spokesperson told TechNode.

In June, the company was rumored to be considering an IPO of $300 million. The company did not yet disclose the pricing or the number of its shares. Credit Suisse and Citigroup are the two principal underwriters of Niu’s IPO, while the sub-underwriter is Needham & Company.

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Masha Borak

Masha Borak is a technology reporter based in Beijing. Write to her at masha.borak [at] technode.com. Pitches with the word "disruptive" will be ignored. Read a good book - learn some more adjectives.