Jayud Global Logistics, a cross-border logistics services provider in China, announced terms for its IPO on Tuesday.
The Shenzhen, China-based company plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Jayud Global Logistics would command a market value of $97 million.
Operating through various subsidiaries in mainland China and Hong Kong, Jayud Global Logistics offers a range of cross-border solution services such as freight forwarding services, supply chain management, custom brokerage, and intelligent logistic IT systems. The company believes that its established transportation network enables increased efficiency and reduces transportation costs, while also benefitting from a geographic location that is equipped to support growth in ocean, air, and overland logistics.
Jayud Global Logistics was founded in 2009 and booked $121 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol JYD. The Benchmark Company is the sole bookrunner on the deal.
