Micro-cap Chinese trucking company MingZhu Logistics sets terms for $13 million US IPO

MingZhu Logistics Holdings, which provides trucking services and logistics in China, announced terms for its US IPO on Tuesday. The Guangdong, China-based company plans to raise £13 million by offering 3 million shares at a price range of £4.00 to £4.50. At the midpoint of the proposed range, MingZhu Logistics Holdings would command a fully diluted market value of £52 million.

If at the time of the IPO, MingZhu's market value is below £50 million, it will be excluded from Renaissance Capital's stats.  MingZhu Logistics Holdings was founded in 2002 and booked £28 million in sales for the 12 months ended December 31, 2018. It plans to list on the Nasdaq under the symbol YGMZ.

ViewTrade is the sole bookrunner on the deal.

Micro-cap Chinese trucking company MingZhu Logistics sets terms for £13 million US IPO[1]

Investment Disclosure: Renaissance IPO ETF (symbol: IPO)[2] Renaissance International ETF (symbol: IPOS)[3]

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

References

  1. ^ Micro-cap Chinese trucking company MingZhu Logistics sets terms for £13 million US IPO (www.renaissancecapital.com)
  2. ^ Renaissance IPO ETF (symbol: IPO) (www.renaissancecapital.com)
  3. ^ Renaissance International ETF (symbol: IPOS) (www.renaissancecapital.com)

You may also like...