Reitar Logtech Holdings, which provides design and other services to the logistics industry in Hong Kong, filed on Thursday with the SEC to raise up to $11 million in an initial public offering.
The Hong Kong-based company plans to raise $11 million by offering 2.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Reitar Logtech Holdings would command a market value of $281 million. The proposed IPO float is just 4.0% of basic shares outstanding.
Reitar Logtech's business primarily consists of two segments: asset management and professional consultancy services, and construction management and engineering design services. For logistics operators, the company provides one-stop logistics solutions whereby it procures capital partners to invest in logistics property development and redevelopment projects, and provides support for customers in their bidding for projects, among other services. For capital partners investing in its projects, the company provides comprehensive asset management and project management services.
Reitar Logtech Holdings was founded in 2015 and booked $14 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol RITR. The company filed confidentially on December 27, 2022. Univest Securities is the sole bookrunner on the deal.
