Yi Po International Holdings, which operates parking lots and provides parking lot equipment in China, announced terms for its US IPO on Tuesday.
The Nanjing, China-based company plans to raise $20 million by offering 4 million shares at a price of $5. At the proposed price, Yi Po International Holdings would command a market value of $70 million.
The company offers intelligent parking management systems and intelligent parking lot gate products in 76 parking lots across 20 cities in China, including 8 lots that it operated itself.
Yi Po International Holdings was founded in 2018 and booked $5 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol YBZN. Boustead Securities is the sole bookrunner on the deal.
