China Finance Online plans to offer 5 million American depositary receipts at $10-$12 each in a bid to raise up to about $55 million with underwriter JP Morgan.

The company sells online financial and listed company data and information in China. China Finance Online said it has been ranked as a top Internet product for Internet users that invest in stocks and access online financial information. International Data Group owns about 31 percent of the company, according to its IPO filings.