Muliang Viagoo Technology, a Chinese manufacturer and distributor of organic fertilizer and agricultural products, has launched its Nasdaq IPO.
The Shanghai, China-based company plans to raise $40 million by offering 10 million shares at a price of $4 per share. At that price, it would command a fully diluted market value of $194 million. While quoted on the OTC Markets (MULG), its stock has not traded in over a year. In connection with the IPO launch, Muliang uploaded roadshow slides with the SEC.
Muliang Viagoo Technology was founded in 2014 and booked $12 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol MULG. Boustead Securities is the sole bookrunner on the deal. It is expected to price on Tuesday, July 27, 2021.
