MingZhu Logistics Holdings, which provides trucking services and logistics in China, announced terms for its US IPO on Tuesday.
The Guangdong, China-based company plans to raise $13 million by offering 3 million shares at a price range of $4.00 to $4.50. At the midpoint of the proposed range, MingZhu Logistics Holdings would command a fully diluted market value of $52 million. If at the time of the IPO, MingZhu's market value is below $50 million, it will be excluded from Renaissance Capital's stats.
MingZhu Logistics Holdings was founded in 2002 and booked $28 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol YGMZ. ViewTrade is the sole bookrunner on the deal.
