New Century Logistics, a Hong Kong-based provider of air and ocean freight forwarding services, raised $6 million by offering 1.5 million shares at $4, the low end of the range of $4 to $5. The company offered 0.25 million more shares than anticipated.
New Century Logistics provides a range of air and ocean export and import freight forwarding services, including the sale of cargo space, cargo pick up, and off-airport air cargo security screening, among others. The company serves direct shippers and other freight forwarders, and since its inception, it has offered its customers routes to over 140 countries.
New Century Logistics plans to list on the Nasdaq under the symbol NCEW. Craft Capital Management and R.F. Lafferty & Co. acted as joint bookrunners on the deal.
