Chinese TV program distributor Unitrend Entertainment Group files and sets terms for a $6 million US IPO

Unitrend Entertainment Group, which provides TV program distribution and ad placement services in China, filed on Monday with the SEC to raise up to $6 million in an initial public offering.

The Beijing, China-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Unitrend Entertainment Group would command a market value of $186 million. The IPO float is just 3.0% of the basic shares outstanding.

Unitrend Entertainment’s core operations involve television program distribution and ad placement. Through television program distribution, the company acquires distribution rights from television producers and then resells those rights to TV stations and media platforms. Through ad placement, the company secures advertising sponsorship for TV stations and online media platforms by connecting brand owners with optimal airtime slots.

Unitrend Entertainment Group was founded in 2010 and booked $21 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol INHI. Revere Securities is the sole bookrunner on the deal.