Photo/Zhang Xiaoqing (NBD)

Dec. 9 (NBD) -- Chinese household appliances maker JS Global Lifestyle Co Ltd ("JS Global", 01691.HK) is restarting the preparations for its initial public offering (IPO), more than a month after its decision announced on October 26 to shelve the float. 

The Hangzhou-based company, which operates brands including Joyoung, Shark, and Ninja, is expected to land on the Hong Kong stock exchange on December 18, 2019. It plans to issue 499 million shares in the global offering at a fixed price of HKD5.2 (0.66 U.S. dollars) per share, lower than the previous range of between HKD5.55 and HKD7.25. 

Approximately 49 million shares will be for Hong Kong offering, while an aggregate of around 449 million shares will be for international offering. JS Global estimated that it would receive net proceeds of approximately 303 million U.S. dollars from the global offering. The company expects to use the proceeds to partially repay debt, for R&D and for market development and expansion.

In 2018, JS Global ranked 6th in the global small household appliance market in terms of market share, and ranked 3rd in China, according to a report by research and consulting firm Frost & Sullivan.

Email: lansuying@nbd.com.cn