The Zhitong Finance App learned that Chinese retail chain Diangreen submitted an IPO application to the US Securities and Exchange Commission on Thursday. It plans to raise up to 17 million US dollars. Pricing terms have not yet been disclosed. The company was founded in 1999, had sales of $20 million for the 12 months ended June 30, 2022, and plans to be traded on the NASDAQ under the code “HGRN”.

According to reports, DianDianlu is a natural and organic food retailer headquartered in Hong Kong. The company opened its first retail store in 1999 and currently operates 22 chain stores under the Diandian Green brand, offering more than 600 product portfolios from a network of 134 suppliers. The company's stores are strategically located in high-traffic areas, including subway stations, residential areas, and shopping centers. EF Hutton is the sole bookkeeper for the transaction.