Chinese TV ad firm Unitrend Entertainment withdraws $6 million US IPO
Withdraw IPO
Unitrend Entertainment Group, which provides TV program distribution and ad placement services in China, withdrew its plans for an initial public offering on Wednesday. It had filed with the SEC to raise $5.6 million by offering 1.25 million shares at a price range of $4.00 to $5.00. At the midpoint of the proposed range, it would have been valued at $96 million.
The Beijing, China-based company was founded in 2010 and booked $21 million in sales for the 12 months ended December 31, 2024. It had planned to list on the Nasdaq under the symbol INHI. Cathay Securities and Revere Securities were set to be the joint bookrunners on the deal.
About the Company
Our business serves as the bridge between television production companies, TV stations and media platforms, advertisement agencies, and prominent multinational brands. Our core operation involves （i） television program distribution, where we acquire distribution rights from television producers and then resell such rights to TV stations and media platforms, and （ii） ad placement, where we secure advertising sponsorship for TV stations and online media platforms through introducing brand owners to airtime slots that are optimal for presenting their products and services. Within the entertainment industry, individual television producers face the challenge of fixating stable avenues to distribute their works. Our business establishes an outstanding reputation among the producers through a track record of fair dealing, which enables us to hoard up a wide selection of high quality television works. Meanwhile, TV stations and media platforms are primarily concerned with rendering appropriate content based on their target audience. Our inventory of television productions allows us to efficaciously provide the content that matches the need of our partnering TV stations and media platforms.