Hong Kong shipping agency service company Tianci International (CIIT.US) filed for listing on Nasdaq, intending to raise $10 million through IPO.

Global logistics company Tianci International, which provides sea freight agency services, announced its terms for listing on the Nasdaq on Thursday. The company initially submitted its application in June 2024 but did not meet the minimum market value requirement of $50 million; it currently trades on the OTC market under the ticker symbol "CIIT." The Hong Kong-based company plans to issue 2.2 million shares at a price of $4 to $5 per share, raising $10 million. Based on the midpoint of the proposed issuance price range, the company's market value will reach $76 million. Operating under the name Roshing International, the company leases cargo space from shipping suppliers and provides customized logistics services to meet the needs of various clients. While the business is predominantly focused in the Asia-Pacific region, Roshing International is also expanding its transportation services to African countries. The company's services cover the entire transportation process, from initial customer consultation and route optimization to contract management, risk assessment, and cargo tracking. In addition to its core logistics business, the company generates revenue from selling electronic components (primarily hardware components of electronic devices) and provides software technology services and business consulting services, including assistance with visa applications. Tianci International was established in 2011 and had revenues of $6 million for the 12 months ending April 30, 2024. The company plans to list on the Nasdaq under the ticker symbol CIIT. Benjamin Securities is the sole book-running manager for this transaction.