Lucas GC, which provides online recruiting and outsourcing services in China, raised $6 million by offering 1.5 million shares at $4, the low end of the range of $4 to $6. The company offered 0.25 million more shares than anticipated. The IPO float is just 1.8% of basic shares outstanding.
Initially focused as a recruitment assistance company, Lucas GC has since expanded to offer one of the first AI+ recruitment platforms in China. The company currently operates two platforms, Columbus and Star Career, which provide recruitment services, outsourcing services, and other services such as information technology and training. In the 1H23, Lucas GC served 390 corporate customers, and at the end of 2022, its platforms had over 430,000 active users.
Lucas GC plans to list on the Nasdaq under the symbol LGCL. Joseph Gunnar acted as sole bookrunner on the deal.
