Smart Logistics Global, a Chinese land-based logistics provider focused on industrial raw material, announced terms for its IPO on Wednesday.
The company plans to raise $6 million by offering 1 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Smart Logistics Global would command a market value of $226 million. The IPO float is just 2.4% of basic shares outstanding.
Smart Logistics Global operates a business-to-business contract logistics solution provider in the People's Republic of China, focusing on the transportation of industrial raw materials. It primarily offers land-only transportation services, with a significant portion of its clientele being large institutional customers who engage in yearly contracts. The company has developed a proprietary digitized system which aids in providing efficient logistics solutions by analyzing logistics data such as truck load information.
Smart Logistics Global was founded in 2017 and booked $98 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol SLGB. Benjamin Securities and Prime Number Capital are the joint bookrunners on the deal.
