Yimutian, which operates a B2B e-commerce platform for the agriculture industry in China, filed on Monday with the SEC to raise up to $40 million in an initial public offering.
Yimutian states that it is the largest agricultural B2B platform in mainland China by monthly active merchants in 2024. The company provides a comprehensive set of digital solutions to facilitate agricultural product transactions, ranging from searching and matching, to transaction facilitation and settlement. Its platform had over 38 million merchants presenting about 21 million SKUs as of December 31, 2024.
The Beijing, China-based company was founded in 2011 and booked $22 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol YMT. Yimutian filed confidentially on December 22, 2023. Tiger Brokers is the sole bookrunner on the deal. No pricing terms were disclosed.
