Fortune Valley Treasures, a food and beverage supply chain company in China, filed on Thursday with the SEC to raise up to $25 million in an initial public offering. The company is currently listed on the OTC (FVTI).
Fortune Valley is a food and beverage supply chain company based in China, whose products are recognized among consumer groups in the Pearl River Delta region. The company operates through online and offline channels, selling to national and regional wholesalers, major food and beverage chains, supermarkets, and other retailers. It purchases, supplies, distributes, and sells alcohol and non-alcohol beverages, packaged staple foods, and household drinking water related purification devices. Since its founding, Fortune Valley has primarily engaged in the wholesale distribution and retail sale of wine and liquor products in Southern China.
The Dongguan, China-based company was founded in 2011 and booked $10 million in sales for the 12 months ended September 30, 2021. It plans to list on the Nasdaq under the symbol FVTI. Joseph Stone Capital is the sole bookrunner on the deal. No pricing terms were disclosed.
