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Smart Logistics (SLGB.US) to go public in the US, raising $6 million at $5-6/share

Market IntelThursday, Nov 21, 2024 2:30 am ET

1min read

Zhitong Finance learned that China logistics service provider Smart Logistics (SLGB.US) announced IPO terms on Wednesday, planning to list on the Nasdaq. The company plans to issue 1 million shares at a price range of $5 to $6, raising $6 million. At the midpoint of the proposed range, Smart Logistics' market value would be $226 million. The IPO shares represent only 2.4% of the issued basic shares.

Smart Logistics Global operates a B2B contract logistics solutions provider in China, focusing on the transportation of industrial raw materials. It mainly provides land transportation services, with a large portion of its customers being large institutional customers who sign annual contracts. The company developed proprietary digital systems to help provide efficient logistics solutions by analyzing logistics data such as truck loading information.

Smart Logistics was founded in 2017 and had revenue of $98 million in the 12 months ended December 31, 2023. Benjamin Securities and Prime Number Capital are joint bookrunners for the transaction.

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