Aixin Life International, which sells nutritional and wellness products in China, announced terms for its IPO on Wednesday. The company is currently listed on the OTC under the symbol "AIXN".
The Chengdu, China-based company plans to raise $25 million by offering 6.3 million shares at $4. At the proposed price, Aixin Life International would command a market value of $97 million.
The company states that it manufactures and sells premium-quality nutritional products and wellness supplements, including herbs and greens, traditional Chinese remedies, probiotics, and foods and drinks. It also offers products purchased from third parties in each of its 13 pharmacies located in Chengdu, China, and provides advertising and marketing services to its clients. In 2021, Aixin Life International acquired a hotel located in Chengdu that features 108 guest rooms and other supporting facilities.
Aixin Life International was founded in 2001 and booked $2 million in sales for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol AIXN. Network 1 Financial Securities is the sole bookrunner on the deal.
