YanGuFang International Group, which produces oat and grain products in China, filed on Friday with the SEC to raise up to $23 million in an initial public offering.
The company primarily engages in the production, research and development, and sales of oat and grain products through its direct salesforce and distribution network throughout various regions in China. Its product portfolio includes oatmeal, oat flour, oat bran, and oat nutrient and health series products (oat peptide series, dietary fiber powder, and oat toothpaste), among others. YanGuFang has operations in Beijing, Shanghai, Jiangsu, Zhejiang, Fujian, Guangdong, Inner Mongolia, Anhui, and Chongqing, with plans for international sales expansion to the US in the second half of 2022.
The Shanghai, China-based company was founded in 2012 and booked $30 million in revenue for the 12 months ended June 30, 2021. It plans to list on the Nasdaq under the symbol YGF. YanGuFang International Group filed confidentially on March 10, 2022. EF Hutton is the sole bookrunner on the deal. No pricing terms were disclosed.
