Chinese logistics service provider Smart Logistics (SLGB.US) IPO priced at $5 per share, with a 5.6% increase on the first day of listing.

Chinese logistics service provider Smart Logistics Global (SLGB.US) landed on the NASDAQ on Wednesday Eastern Time. Its initial public offering (IPO) was priced at $5 per share (at the lower end of the $5-$6 per share pricing range), raising $5 million by issuing 1 million shares of stock. The stock closed up 5.60% on its first day of trading, at $5.28. Information shows that Smart Logistics Global Limited, through its domestic operating entity, Fuzhou Jiabin Modern Logistics Park Co., Ltd., has been a B2B contract logistics provider focusing on industrial raw material transportation in China since 2018. The company primarily provides tailored and cost-effective logistics solutions to clients with long-term contracts with large institutions through land transport services. The company leverages its proprietary transportation management system to optimize routes and equipment, and is committed to scalability through investment in advanced logistics infrastructure, including its 110,000-square-meter smart logistics park in Jiangxi and seven full vehicle loading centers strategically located in China, effectively enhancing its operational capabilities and growth potential.