Yimutian, which operates a B2B e-commerce platform for the agriculture industry in China, raised $21 million by offering 5 million ADSs (10% secondary) at $4.10, the low end of the range of $4.10 to $5.00.
The Beijing, China-based company 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 plans to list on the Nasdaq under the symbol YMT. Tiger Brokers acted as sole bookrunner on the deal.
