Baidu Ventures, Mango Media and Zhongnan Red Cultural Group are set to exit the screen projector producer in an IPO on Shanghai’s Star Market.

Xgimi Technology, a China-based projector manufacturer backed by corporates Baidu, Mango Media and Zhongnan Red Cultural Group, has filed to raise RMB1.2bn ($185m) in an initial public offering. The company is set to issue 12.5 million shares priced at RMB 133.73 each, representing a 25% of its outstanding equity. China International Capital Corporation is lead…

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