YanGuFang International Group, a Chinese producer of oat and grain products, announced terms for its IPO on Tuesday.
The Shanghai, China-based company plans to raise $30 million by offering 5 million shares at a price range of $5 to $7. At the midpoint of the proposed range, YanGuFang International Group would command a market cap of $210 million.
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.
YanGuFang International Group was founded in 2012 and booked $38 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol YGF. EF Hutton is the sole bookrunner on the deal. It is expected to price during the week of September 26, 2022.
