SZ DJI Technology Co Ltd wants at least $500 million in pre-IPO funding

SZ DJI Technology, the world’s biggest maker of civilian drones, is seeking to infuse fresh capital through a combination of new equity and debt; its IPO is slated for 2019.

According to three sources with knowledge of the matter, SZ DJI Technology Co Ltd, a Chinese drone maker, is seeking at least $500 million at a valuation of about $15 billion ahead of its planned IPO.

DJI, the world’s largest maker of civilian drones, plans on infusing fresh capital, obtained through the IPO, in a combination of new equity and debt; it plans on finalizing the deal in coming months.

Sources preferred the cover of anonymity since the information is private.

A stock market listing is likely next year, said sources who went on to add, that the proceeds for Shenzhen-based DJI, which is currently holding talks with prospective investors, is likely to be in the range of $500 million to $800 million.

DJI’s spokeswoman stated in an e-mail, it had no announcements to make on its fundraising activities and was not planing an initial public offering, at the moment.

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