Exhibit 99.2
Qutoutiao Inc. Announces ProposedFollow-on Public Offering of American Depositary Shares
SHANGHAI, March 30, 2019 (GLOBE NEWSWIRE) – Qutoutiao Inc. (“Qutoutiao”, the “Company” or “We”) (NASDAQ: QTT), an innovative and fast-growing mobile content platform company in China, today announced that it filed a registration statement onFormF-1 with the U.S. Securities and Exchange Commission (the “SEC”) relating to afollow-on public offering (the “Offering”) of 8,500,000 American Depositary Shares (“ADSs”), every four of which represent one Class A ordinary share of the Company. The Company expects to offer 1,049,756 ADSs and certain selling shareholders (the “Selling Shareholders”) expect to offer 7,450,244 ADSs in aggregate in the Offering. The underwriters will have a30-day option to purchase up to an aggregate of 1,275,000 additional ADSs from the Company.
The Company expects to use the net proceeds from the Offering for general corporate purposes. The Company will not receive any proceeds from the sale of ADSs by the Selling Shareholders.
Citigroup Global Markets Inc., Deutsche Bank Securities Inc., CLSA Limited, Jefferies LLC, Haitong International Securities Company Limited and Lighthouse Capital International Inc. are acting as joint bookrunners for the Offering.
The Company’s registration statement on FormF-1 relating to these securities, which contains the Company’s audited financial statement for the fiscal year ended December 31, 2018 and management’s discussion and analysis of financial condition and results of operations for the same period, is available at the SEC’s website atwww.sec.gov. The registration statement has been filed with the SEC but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.
The Offering will be made only by means of a prospectus forming part of the effective registration statement. A copy of the prospectus relating to this offering may be obtained, when available, by contacting: Citigroup Global Markets Inc., Broadridge, 1155 Long Island Avenue, Bays4-9, Edgewood, NY 11717; Deutsche Bank Securities Inc., 60 Wall Street, New York, NY 10005, United States, telephone:800-503-4611, email:prospectus.CPDG@db.com, Attention: Prospectus Group; CLSA Limited, 18/F, One Pacific Place, 88 Queensway, Hong Kong, telephone: +852 2600 8107, or by email:ProjectFun2@CLSA.com; Jefferies LLC, Attn: Equity Syndicate Prospectus Departments, 520 Madison Avenue, 2nd Floor, New York, NY 10022, by telephone at 877-821-7388 or by email at Prospectus_Department@Jefferies.com; Haitong International Securities Company Limited, 9/F, Li Po Chun Chambers, 189 Des Voeux Road Central, Hong Kong, telephone: +852 2848 4333, or by email:ecm@htisec.com; or Lighthousecap International Inc., 3801, China Life Financial Center, 88 Yincheng Road, Pudong New Area, Shanghai, telephone: +86 21 6045 0967, or by email:Philji@lighthousecap.cn.
This announcement shall not constitute an offer to sell, or a solicitation of an offer to buy, the securities of the Company described herein, nor shall there be any offer, solicitation or sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
