Changzhou Youon poised to be first listed bike-sharing company in China

Subscriptions for the initial public offering of Changzhou Youon Public Bicycle System began on Monday, in what will be the first listed bike-sharing company in China after it floats on the Shanghai Stock Exchange.

According to its prospectus, Youon is offering 24 million shares at an offer price of 26.85 yuan ($4) per share. The IPO aims to raise 644.4 million yuan, which would value the group at $384 million.