Tianci International, a global logistics company specializing in ocean freight forwarding services, raised $7 million by offering 1.8 million shares at $4, the low end of the range of $4 to $5. The company offered 0.4 million fewer shares than anticipated. Its shares had previously been listed on the OTC.
Operating as Roshing International, the company charters cargo space from shipping suppliers and provides customized logistics services to meet diverse customer needs. While primarily focused on the APAC region, Roshing also facilitates shipments to African countries. The company's services encompass the entire shipping process, from initial customer consultation and route optimization to contract management, risk assessment, and shipment tracking. In addition to its core logistics business, the company also generates revenue from the sale of electronic parts, primarily hardware components for electronic devices, and offers software technical services and business consulting services, including assistance with visa applications.
Tianci International plans to list on the Nasdaq under the symbol CIIT. American Trust Investment Services acted as sole bookrunner on the deal.
