Chinese logistics supplier Tiancheng Zhilian (ELOG.US) sets IPO price at $4-5 per share, aiming to raise $7 million.

The controlling shareholder of Tiancheng Zhilian Logistics Supply Chain Management Co., Ltd. is EASTERN INTERNATIONAL LTD. Tongyuan Global Co., Ltd. (referred to as Tiancheng Zhilian) submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Tuesday, aiming to raise up to $7 million. The company, headquartered in Hangzhou, China, plans to issue 1.6 million shares at a price of $4 to $5 per share, raising $7 million. Based on the proposed midpoint range, Tiancheng Zhilian's market value will reach $54 million. Tiancheng Zhilian focuses on logistics for construction projects and special cargo, 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 roads, bridges, and tunnels). The company has a strong presence in China and is expanding into the Southeast Asian market. It serves large corporate clients, including multinational companies and state-owned enterprises, especially in renewable energy, household appliances, and construction industries. For the twelve months ending March 31, 2024, Tiancheng Zhilian had revenue of $40 million. The company plans to list on the Nasdaq under the ticker symbol ELOG. Maxim Group LLC is the sole book-running manager for this transaction.