CGL Logistics Holdings, a Hong Kong-based provider of freight forwarding services, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The company plans to raise $15 million by offering 3.8 million shares at $4. At the proposed price, CGL Logistics Holdings would command a market value of $75 million.
Through its operating subsidiaries, the company provides freight forwarding services. Its services include sea, air, and rail freight forwarding, under which the company transports goods, cargos, or project components from one point to another and provides pick-up, warehousing, and/or customs clearance/declaration services as instructed by the customer. CGL also provides agency logistics services.
The Hong Kong-based company was founded in 1999 and booked $38 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol CGL. Revere Securities is the sole bookrunner on the deal.
