ZKH Group, which provides a B2B procurement platform for industrial supplies in China, filed on Tuesday with the SEC to raise up to $200 million in an initial public offering.
If the company were to raise $200 million, ZKH Group's offering would be the largest US IPO from a Chinese issuer since October 2021.
ZKH Group states that it is a leading MRO (materials for maintenance, repair, and operations) procurement service platform in China, providing one-stop MRO procurement and management services, as well as digital and fulfillment solutions along the industry value chain. The company operates two platforms, ZKH platform and GBB platform.
The Shanghai, China-based company was founded in 1998 and booked $1.2 billion in revenue for the 12 months ended December 31, 2022. It plans to list on the NYSE under the symbol ZKH. ZKH Group filed confidentially on March 30, 2022. Goldman Sachs and China Renaissance are the joint bookrunners on the deal. No pricing terms were disclosed.
