Tiancheng Holding (ELOG.US) files for US IPO
1min read On September 30, the China Securities Regulatory Commission (CSRC) issued a notice on the registration of Eastern International Ltd. (Dongyuan Global Co., Ltd.)'s overseas listing. The CSRC has received the registration materials submitted by the company's domestic operating entity, Suzhou Tiancheng ZhiLian Logistics Co., Ltd. (Tiancheng ZhiLian (ELOG.US)), which plans to issue no more than 1.84 million common shares and list on the Nasdaq Stock Market in the United States.According to the filing, Tiancheng ZhiLian submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) on September 3, planning to issue 1.6 million shares at a price range of US$4 to US$5, raising US$7 million.Tiancheng ZhiLian focuses on construction project logistics and specialized cargo logistics, as well as general logistics for various industries. Its business includes transportation, warehousing, and distribution, with a focus on new energy projects, chemical equipment, and infrastructure construction (including road and bridge construction, tunnel construction). The company has strong influence in China and is expanding into the Southeast Asian market. It serves large enterprises, including multinational corporations and state-owned enterprises, particularly in the renewable energy, home appliances, and construction sectors. Based on the midpoint of the proposed range, Tiancheng ZhiLian's market capitalization would be US$54 million.Financially, Tiancheng ZhiLian's revenue was US$40 million in the 12 months ended March 31, 2024.