Yimutian, which operates a B2B e-commerce platform for the agriculture industry in China, announced terms for its IPO on Tuesday.
The Beijing, China-based company plans to raise $23 million by offering 5 million ADSs (10% secondary) at a price range of $4.10 to $5.00. At the midpoint of the proposed range, Yimutian would command a fully diluted market value of $626 million.
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, and its geographic footprint covered over 340 cities and 2,800 counties in China. Additionally, the platform facilitated approximately 147 million searches, 583 million calls and instant messages, and over 187 million potential transactions in 2024.
Yimutian was founded in 2011 and booked $22 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol YMT. Tiger Brokers is the sole bookrunner on the deal.
