Hong Kong logistics service provider Smart Pointer Group Holdings (SPGH.US) has applied for listing on the US market and plans to raise $28 million.

Smart Pointer Group Holdings (SPGH.US), a temperature-controlled logistics service provider based in Hong Kong, submitted its IPO filing to the US Securities and Exchange Commission (SEC) on Monday, planning to raise up to $28 million through its initial public offering. The company intends to issue 5 million shares at a price range of $5 to $6 per share, with a total fundraising amount of $28 million. Based on the mid-range of the offering price, the company's market value would reach $83 million. Smart Pointer Group Holdings operates through its wholly-owned subsidiary, Smart Pointer Logistics Warehouse, providing cold storage, temperature-controlled warehousing, outsourcing distribution, and related value-added logistics services to clients in various industries. Its main facility is a 12-story logistics center located in Kwai Chung, New Territories, covering an area of approximately 70,000 square feet. Kwai Chung is a major commercial freight hub in Hong Kong. The company has a temperature-controlled truck fleet and operates under a third-party logistics model, with a relatively concentrated customer base. Its largest customer accounted for 35% of the company's revenue in the 2024 fiscal year, decreasing to 11% in the 2025 fiscal year. Established in 2019, Smart Pointer Group Holdings reported revenue of $8 million in the 12 months ending September 30, 2025. The company plans to list on the NASDAQ under the ticker symbol SPGH. It confidentially submitted its IPO application on June 20, 2025. Cathay Securities is serving as the sole bookrunner for the transaction.