IPO for Smart Share Global Limited (EM) Opens 18% Higher

Today's IPO for Smart Share Global Limited (Energy Monster) (NASDAQ: EM) opened for trading at $10 after pricing 17,650,000 American Depositary Shares (“ADSs”) at a public offering price of $8.50 per share.

Goldman Sachs (Asia) L.L.C., Citigroup Global Markets Inc. and China Renaissance Securities (Hong Kong) Limited are acting as joint bookrunners and as representatives of the underwriters for the offering. Tiger Brokers (NZ) Limited, BOCI Asia Limited, Futu Inc. and SNB Finance Holdings Limited are co-managers for the offering.

Energy Monster is a consumer tech company providing mobile device charging service through an extensive online and offline network. Energy Monster is the largest mobile device charging service provider in China in terms of gross revenues in 2020, according to the iResearch Report. Energy Monster provides service through its power banks, placed in POIs operated by the location partners, such as entertainment venues, restaurants, shopping centers, hotels, transportation hubs and public spaces. Through the mini programs, users rent power banks to carry with them when they use charging service and can return the power banks at any of the POIs.

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