March 22, 2018 / 2:52 AM / a year ago

Chinese drone maker DJI seeking at least $500 mln in pre-IPO funding -sources

HONG KONG, March 22 (Reuters) - Chinese drone maker SZ DJI Technology Co Ltd is seeking at least $500 million at a valuation of about $15 billion ahead of a planned stock market debut, three people with knowledge of the matter told Reuters.

DJI, the world’s largest maker of civilian drones, plans to obtain the fresh capital in a combination of new equity and debt, and wants to finalise the deal in the coming months, said the people, declining to be identified as the information was private.

A stock market listing is likely next year, they added.

Proceeds for Shenzhen-based DJI, which is in talks with prospective investors, could be between $500 million and $800 million, one of the people said.

A spokeswoman for DJI said in an emailed statement the company had no announcement to make on fundraising and that it was not planning an initial public offering at the moment. She did not elaborate. (Reporting by Fiona Lau of IFR and Julie Zhu in HONG KONG; Editing by Sumeet Chatterjee and Edwina Gibbs)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below