Molecular Data, which offers e-commerce and software solutions to the Chinese chemicals industry, filed on Friday with the SEC to raise up to $70 million in an initial public offering..
The Shanghai, China-based company was founded in 2018 as a subsidiary of MOLBASE and booked $2 billion in revenue for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol MKD. AMTD Global Markets, Fosun Hani Securities and Boustead Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
