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Jayud Global Logistics (JYD), a provider of cross-border logistics services in China, has filed to raise $12M through a US initial public offering.
Jayud didn’t specify in its filing the size or price of the deal, but indicated in its filing fee schedule that it was looking to raise around $12M. Benchmark is serving as lead bookrunner.
The company hopes to list its shares on Nasdaq under the symbol JYD.
Incorporated in the Cayman Islands, Jayud is based in Shenzhen, which is part of the Greater Bay Area economic hub that also includes Guangdong, Hong Kong and Macao.
Jayud has been operating in the black. For the six-month period ended June 30, the company reported net income of $1.4M on revenue of $67.7M.
Fellow Chinese logistics company Shengfeng (SFWL) is also seeking a US listing. The company recently downsized its IPO by 46% to $14M.
