NetPlastics Technology (NPT.US) submits IPO application, plans to raise up to $17 million in funding.

On Wednesday, Wangsu Technology submitted an initial public offering (IPO) application to the US Securities and Exchange Commission (SEC), planning to raise up to $17 million. Wangsu Technology is a company that provides supply chain services to the plastic and chemical industry in China. Wansu Technology has over 3000 stock keeping units (SKUs) of plastic and chemical products, dedicated to providing a one-stop logistics service for its 1964 suppliers and 2823 customers to simplify the procurement process. Their solutions include product search and matching, recommendations, order management and payment, as well as logistics delivery services. The company was founded in 2011 and is headquartered in Shanghai, China. In the 12 months ending on December 31, 2023, Wangsu Technology's sales reached $685 million. The company plans to list on Nasdaq under the ticker symbol NPT. EF Hutton is the sole bookrunner for this transaction. Pricing terms have not yet been disclosed.