Hong Kong logistics services provider Speed Group Holdings (SPED.US) increases its IPO size by 50%, aiming to raise $17 million.

Speed Group Holdings, a cross-border freight forwarding and logistics service provider headquartered in Hong Kong, raised the planned fundraising scale for its upcoming initial public offering (IPO) on Thursday. The Hong Kong-based company plans to issue 3.8 million shares at a price range of $4-5 per share, raising $17 million; the company had previously applied to issue 2.5 million shares at the same price range. Based on the revised midpoint of the offering size, Speed Group's fundraising amount will increase by 50% from the original expectations, with an estimated post-listing market value of $84 million. Speed Group, through its subsidiary Speed Logistics, provides e-commerce logistics (87% of revenue in fiscal year 2025), freight forwarding (12%), and customized warehousing and distribution services (1%) in North America, Asia, and Europe. The company's customers are primarily online shopping platforms, and its suppliers include multinational airlines and express logistics companies, with its largest customer contributing approximately 82% of revenue in fiscal year 2025. Established in 2021, Speed Group plans to list on the Nasdaq under the stock symbol SPED, with R.F. Lafferty & Co. as the exclusive bookrunner for the IPO.