Jayud Global Logistics, a cross-border logistics services provider in China, raised $5 million by offering 1.25 million shares at $4, the low end of the range of $4 to $5. The company offered 0.25 million fewer shares than anticipated.
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 plans to list on the Nasdaq under the symbol JYD. The Benchmark Company acted as sole bookrunner on the deal.
