Texxon Holding, which provides supply chain services for the plastic and chemical industries in China, filed on Wednesday with the SEC to raise up to $17 million in an initial public offering.
Through its operating subsidiary Zhejiang Net Plastic Technology Co., Texxon offers over 3,000 plastic and chemical SKUs, aiming to provide a one-stop shop to streamline procurement for its network of 1,964 suppliers and 2,823 customers. It solutions include product search and matching, recommendations, order management and payments, and delivery logistics.
The Shanghai, China-based company was founded in 2011 and booked $685 million in sales for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol NPT. Texxon Holding filed confidentially on March 26, 2024. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
