Hanibaram
Chinese logistics services company Shengfeng Development (SFWL) (SHNG) has set terms for a proposed $25 million IPO.
The contract logistics provider said in a filing that it plans to offer 5 million common shares at a price of $5 per share. The underwriters would be granted a 45-day option to purchase up to $750,000 in additional shares to cover over-allotments.
Shengfeng intends to list its shares on the Nasdaq under the symbol SFWL. A previous filing indicated that the symbol would be SHNG. Univest Securities acts as lead underwriter.
Based in Fuzhou City, China, Shengfeng operates in China through subsidiaries and a variable interest entity (VIE). The company is incorporated in the Cayman Islands.
For more information on Shengfeng, see Donovan Jones’ “Shengfeng Development Launches $36M US IPO.”
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