Huami files for offering of ADS

|About: Huami Corporation (HMI)|By:, SA News Editor

Chinese wearable-tech maker Huami (NYSE:HMI) has filed for an offering of American Depositary Shares.

The offering comes through Morgan Stanley, Credit Suisse and Citigroup.

As-yet-undetermined proceeds will be used "approximately 30% for research and development of products, services and technologies; approximately 30% for selling and marketing; and the balance for general corporate purposes and working capital and potential strategic investments and acquisitions."

Shares are down 3.3% after hours in light trading.

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