Commentary & News

Hitek Global, which provides IT consulting and solutions services in China, raised $16 million by offering 3.2 million shares at $5, as expected. The company offered 0.8 million fewer shares than anticipated. Hitek Global originally filed with the SEC in November 2018, and its F-1 prospectus was declared effective in March 2020. The company continued to provide updates via...read more

SYLA Technologies, a Japanese real estate developer expanding into fintech, solar, and crypto, raised $15 million by offering 1.9 million ADSs at $8, as expected. SYLA Technologies operates an online real estate platform, constructs and sells solar power plants, manufactures and sells crypto mining machines, operates an asset management platform, and manages real estate. The...read more

Shengfeng Development, a Chinese contract logistics services provider, raised $10 million by offering 2.4 million shares at $4, the low end of the range of $4 to $5. The company offered 0.6 million fewer shares than anticipated. It originally planned to offer 8 million shares but had revised the terms several times since then. The IPO float is just 2.9% of basic shares outstanding. ...read more

GoodFaith Technology, which provides delinquent debt collection and related services for credit loans in China, filed on Friday with the SEC to raise up to $15 million in an initial public offering. The Shanghai, China-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, GoodFaith Technology...read more