MingZhu Logistics Holdings, which provides trucking and logistics services in China, lowered the range for its upcoming IPO on Thursday.
The Guangdong, China-based company now plans to raise $12 million by offering 3 million shares at $4. The company had previously filed to offer the same number of shares at a range of $4.00 to $4.50. At the revised price point, MingZhu Logistics Holdings will raise -6% less in proceeds than previously anticipated to command a market value just below $50 million. If it prices at a market cap less than $50 million, MingZhu Logistics will not be included in our stats.
MingZhu Logistics Holdings was founded in 2002 and booked $29 million in revenue for the 12 months ended December 31, 2019. It plans to list on the Nasdaq under the symbol YGMZ. ViewTrade is the sole bookrunner on the deal
