Zhihu Inc. ZH, announced Friday the pricing of its initial public offering, at $9.50 per American depositary share, which was at the low end of the expected range. The China-based online content company offered 55 million ADS in the IPO to raise $522.5 million, while the pricing valued the company at about $5.31 billion. The IPO was expected to price between $9.50 and $11.50 a share. The stock is expected to begin trading on the NYSE under the ticker symbol “ZH.” The company is going public at a time that the Renaissance IPO ETF IPO, -0.17% has dropped 11.8% over the past three months while the iShares MSCI China ETF MCHI, +0.13% has edged up 2.2% and the S&P 500 SPX, +0.78% has gained 5.6%.
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