Smart Logistics Global, a Chinese land-based logistics provider focused on industrial raw material, raised $5 million by offering 1 million shares at $5, the low end of the range of $5 to $6.
Smart Logistics Global operates a business-to-business contract logistics solution provider in the People's Republic of China, focusing on the transportation of industrial raw materials. It primarily offers land-only transportation services, with a significant portion of its clientele being large institutional customers who engage in yearly contracts. The company has developed a proprietary digitized system which aids in providing efficient logistics solutions by analyzing logistics data such as truck load information.
Smart Logistics Global plans to list on the Nasdaq under the symbol SLGB. Craft Capital Management and Revere Securities acted as joint bookrunners on the deal.
