Youxin Technology, a Chinese provider of digital transformation software and services for retailers, raised the proposed deal size for its upcoming IPO on Friday.
The Guangzhou, China-based company now plans to raise $10 million by offering 2.3 million shares at $4.50 per share. The company had previously filed to offer 2.3 million shares at $4. At the new proposed share price, Youxin Technology will raise 13% more in proceeds than previously anticipated and command a market value of $151 million.
Concurrently, selling shareholders have registered 1.9 million shares via a separate resale prospectus.
Youxin is a software-as-a-service (SaaS) and platform-as-a-service (PaaS) provider focused on helping mid-tier retailers digitally transform their businesses. The company primarily generates revenue from professional services and payment channel services, and in the FY22, it had 25 professional services customers and 183 payment channel services, primarily in the consumer goods, cosmetics, and food and drink sectors.
Youxin Technology was founded in 2018 and booked $1 million in sales for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol YAAS. Aegis Capital Corp. is the sole bookrunner on the deal.
