China's Blue Hat Interactive Entertainment Technology filed on Monday with the U.S. Securities and Exchange Commission to raise up to 18 million U.S. dollars in an initial public offering (IPO).
The augmented reality (AR) entertainment platform plans to raise the proposed amount by offering 4.5 million shares at a price of 4 U.S. dollars, where it would command a market value of 150 million dollars.
Founded in 2010 and based in China's southeastern Fujian Province, the company mainly designs, develops and sells AR based games and children's toys.
It booked 17 million dollars in sales for the 12 months ending Sept. 30, 2018, according to the official website of Nasdaq.
Blue Hat plans to list on the Nasdaq under the symbol BHAT. ViewTrade Securities Inc. is the sole bookrunner on the deal.
