BRIEF: China gives nod for Smart Logistics Global’s Nasdaq IPO

Business-to-business logistics company Smart Logistics Global Ltd.’s plan to list in the U.S. was formally registered by China’s securities regulator, paving the way for its Nasdaq IPO. According to the registration notice by the China Securities Regulatory Commission (CSRC) dated April 15, Smart Logistics Global plans to sell 1.15 million shares in the IPO.

Smart Logistics Global made its first public filing with the U.S. Securities and Exchange Commission (SEC) last October. In an updated filing in December, it said it planned to sell 1 million shares for between $5 and $6 each.

The company reported 299 million yuan ($41 million) in revenue in the first half of last year, down 12% from 341 million yuan in the year-ago period. Its net income over that time fell to 1.28 million yuan from 12.1 million yuan a year earlier.

By Doug Young

To subscribe to Bamboo Works weekly free newsletter, click here

, ,
,

Related Articles

RELATED ARTICLES

  1. Despite widening losses and slumping gross margins, Pateo Connect fully gears up for IPO
    Pateo Connect revs up for IPO, belching widening losses and slumping margins
  2. NEWS WRAP: JD Logistics profit nearly triples on technology upgrades
    2618.HK
  3. Horizon’s lead grows in smart driving race with new product rollouts
    9660.HK
Discover hidden China stock gems in our weekly newsletter

Follow us

Facebook Twitter Linkedin Weixin Weibo Youtube

Subscribe to Our Free eNewsletter

Subscribe

Check out our content with some of our syndication partners

factiva

Recent Articles

Kelun-Biotech reported rising sales of its signature cancer drug

Precision cancer drugs show promise for Kelun-Biotech

The company reported rising sales of its signature cancer drug and could get national insurance coverage for other key products, potentially boosting full-year earnings Key Takeaways: Topline revenue actually fell…
6990.HK