Hong Kong freight forwarder Huayang Shipping (CGL.US) revises IPO terms, increasing funding size to $15 million.

Hong Kong freight forwarding service provider China Global Shipping (CGL.US) has increased the number of shares to be offered in its upcoming IPO. The company currently plans to offer 3.8 million shares at an issue price of $4 per share, aiming to raise $15 million. The company initially applied in October 2025 to issue 3.8 million shares at a price of $4, which is consistent with its latest revised issuance plan. Subsequently, the company also applied in December 2025 to issue 1.8 million shares at the same price. Based on the revised midpoint of the deal size, the funds raised by China Global Shipping will increase by 114% compared to previous expectations, and the market value will reach $75 million. Through its operating subsidiaries, the company provides freight forwarding services. Its business covers ocean, air and railway freight forwarding, responsible for transporting goods, cargo or project components from one place to another and providing pick-up, warehousing, and/or customs clearance services according to customer instructions. In addition, CGL also provides logistics services on behalf of clients. Established in 1999, China Global Shipping plans to list on Nasdaq with the stock code CGL. Revere Securities is the exclusive bookrunner for the transaction.