BlueCity Holdings Ltd. /zigman2/quotes/219065006/composite BLCT -0.81% set terms for its initial public offering, as the China-based online LGBTQ community looks to raise up to $90.1 million. The company is offering 5.3 million American depositary shares (ADS), representing 2.65 million Class A ordinary shares, which are expected to price between $15.00 and $17.00. The stock is expected to list on the Nasdaq exchange under the ticker symbol "BLCT." The lead underwriters of the IPO are AMTD, Loop Capital Markets, Tiger Brokers, Prime Number Capital and R.F. Lafferty & Co. The company recorded a net loss of RMB7.6 million ($1.08 million) on revenue of RMB207.5 million ($29.3 million) for the three months ended March 31, after a loss of RMB26.4 million on revenue of RMB145.3 million in the same period a year ago. The company is looking to go public at a time that the Renaissance IPO ETF /zigman2/quotes/207665280/composite IPO +0.88% has rallied 60.4% over the past three months, the iShares MSCI China ETF /zigman2/quotes/206267952/composite MCHI -0.74% has climbed 19.5% and the S&P 500 /zigman2/quotes/210599714/realtime SPX -0.20% has advanced 26.2%.