Reitar Logtech Holdings, which provides design and other services for the logistics industry in Hong Kong, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Thursday, aiming to raise up to 11 million U.S. dollars.
Reitar Logtech Holdings, which provides design and other services for the logistics industry in Hong Kong, submitted its initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) last Thursday, aiming to raise up to 11 million U.S. dollars. It is reported that the company plans to issue 2.5 million shares of stock at a price of $4-5 per share. Based on the midpoint of the proposed price range, the company's market cap will reach 0.281 billion U.S. dollars. The proposed IPO's float will only account for 4.0% of the company's issued basic shares.
Reitar Logtech Holdings' business is mainly divided into two parts: asset management and professional consulting services, and building management and engineering design services. The company provides one-stop logistics solutions for logistics operators, assists capital partners in investing in logistics properties development and reconstruction projects, and assists clients in bidding for projects. For capital partners investing in their projects, the company provides comprehensive asset management and project management services.
Reitar Logtech Holdings was founded in 2015 and had a revenue of $14 million for the 12 months ending September 30, 2023. The company plans to list on the NASDAQ with the stock code "RITR".