Tianci International, a global logistics company specializing in ocean freight forwarding services, announced terms for its Nasdaq uplisting on Thursday. The company had originally filed in June 2024, but did not meet our minimum $50 million market cap requirement. It is currently listed on the OTC under the symbol "CIIT".
The Hong Kong-based company plans to raise $10 million by offering 2.2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Tianci International would command a market value of $76 million.
Operating as Roshing International, the company charters cargo space from shipping suppliers and provides customized logistics services to meet diverse customer needs. While primarily focused on the APAC region, Roshing also facilitates shipments to African countries. The company's services encompass the entire shipping process, from initial customer consultation and route optimization to contract management, risk assessment, and shipment tracking. In addition to its core logistics business, the company also generates revenue from the sale of electronic parts, primarily hardware components for electronic devices, and offers software technical services and business consulting services, including assistance with visa applications.
Tianci International was founded in 2011 and booked $6 million in revenue for the 12 months ended April 30, 2024. It plans to list on the Nasdaq under the symbol CIIT. Benjamin Securities is the sole bookrunner on the deal.
