Canaan Inc.'s IPO is priced at $9-11 per ADS, with a diluted market value of $1.6 billion

According to information released on the website of IPO research company Renaissance Capital, Canaan Creative's IPO on the Nasdaq market in the United States is priced at $9-11 per American Depositary Share (ADS). Based on the median of this price range, Canaan Creative is valued at $1.6 billion after dilution in this offering. According to a previous report by Odaily Planet Daily, the self-media Wu said that Canaan has updated its prospectus again, confirming that it will issue 10 million ADSs, priced at $9-11 per share, and raising funds between $90 million and $110 million, which is lower than the initial outside world's belief of $200 million or $400 million. At the same time, the prospectus shows that Credit Suisse, the top-ranked lead underwriter, has withdrawn from the ranks of underwriters and added Haitong International Securities. This is the last update of the prospectus before the listing on the 21st. Canaan's prospectus initially showed that underwriters included Credit Suisse, Citi, China Renaissance Capital, CMB International, Galaxy Digital Advisors LLC, Huatai Securities and Tiger Securities International. Among them, Galaxy Digital Advisors LLC is a broker-dealer under the crypto asset investment bank Galaxy Digital. The updated prospectus shows that Credit Suisse has indeed withdrawn from the list of lead underwriters and Haitong International Securities has been added. There were rumors that Citigroup was also hesitating. However, the updated prospectus shows that Citigroup did not withdraw after Credit Suisse withdrew and will take up the banner of lead underwriter.