China-based logistics service provider OUI Global files and sets terms for a $13 million US IPO

OUI Global, a transportation logistics provider in China, filed on Thursday with the SEC to raise up to $13 million in an initial public offering.

The Shanghai, China-based company plans to raise $13 million by offering 2.5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, OUI Global would command a market value of $72 million.

Operating primarily through subsidiary TKE Zhenbiao, the company offers container trucking services between seaports and designated pick up and/or delivery points to its customers. As of 12/31/22, OUI Global had a truckload fleet of 214 trucks and 239 trailers. It also ranked first in the East China region in terms of self-operated vehicles in 2021.

OUI Global was founded in 2001 and booked $63 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol TKE. OUI Global filed confidentially on March 3, 2023. Pacific Century Securities is the sole bookrunner on the deal.