Reitar Logtech Holdings, which provides design and other services to the logistics industry in Hong Kong, raised $9 million by offering 2.1 million shares at $4, the low end of the range of $4 to $5.
Reitar Logtech's business primarily consists of two segments: asset management and professional consultancy services (8% of 1H FY24 revenue), and construction management and engineering design services (92%). 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 plans to list on the Nasdaq under the symbol RITR. Cathay Securities acted as sole bookrunner on the deal.
