EShallGo, which sells and leases office equipment in China, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The Shanghai, China-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, EShallGo would command a market value of $116 million.
Through its VIE and operating company Junzhang Shanghai, the company engages in office supply sale & leasing and after-sale maintenance & repair, serving as a dealer for nearly all the globally known office supply brands in China. It has established 155 service points with more than 1,000 technicians.
EShallGo was founded in 2015 and booked $23 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol EHGO. The company filed confidentially on December 27, 2021. Tiger Brokers is the sole bookrunner on the deal.
