Commodity trading company Tongying Group (TYZ.US) applies for listing in the US and plans to raise $10 million.

Commodity trading firm Tong Ying Group (TYZ.US) submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission last Friday, planning to raise $10 million. The company is mainly engaged in the trading of chemicals, metals, and Shenzhen Agricultural Power Group, conducting commodity trading and supply chain consulting services in mainland China through its operating subsidiaries. Its commodity trading business mainly involves procuring chemical products, non-ferrous metal products, and Shenzhen Agricultural Power Group from upstream suppliers and selling them to downstream customers. Its supply chain consulting services mainly provide professional advice for commodity trading to clients. Founded in Shanghai, China in 2020, the company generated revenue of $765 million in the 12 months ended on June 30, 2024. The company plans to list on Nasdaq with the stock code TYZ. Joseph Stone Capital is the sole bookrunner for this transaction. Pricing terms have not yet been disclosed.