Gridsum registers $75 million of stock for initial public sale of ADS

Goldman Sachs (Asia), Citigroup, Stifel help fund working capital

By Devika Patel

Knoxville, Tenn., Aug. 26 – Gridsum Holding Inc. will price its initial public offering of American Depositary Shares with a 30-day greenshoe, according to a form F-1 filed Friday with the Securities and Exchange Commission. The company has registered up to $75 million of underlying ordinary stock.

Goldman Sachs (Asia) LLC and Citigroup Global Markets Inc. are the bookrunners. Stifel, Nicolaus & Co. Inc. is a co-manager.

Proceeds will be used for working capital and other general corporate purposes.

The Beijing company offers data analysis software to multinational and domestic enterprises and government agencies in China. The company intends to list the ADS on the Nasdaq under the symbol “GSUM.”

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