World Road, a Chinese provider of cross-border freight and logistics services, raised the proposed deal size for its upcoming IPO on Wednesday. In its latest filing, the company also removed the underwriters on the deal; it had previously listed Craft Capital Management as the sole bookrunner.
The Wuhan, China-based company now plans to raise $33 million by offering 6 million shares at a price range of $5 to $6. The company had previously filed to offer 1.5 million shares at a price range of $4 to $6. At the midpoint of the revised range, World Road will raise 340% more in proceeds than previously anticipated and command a market value of $190 million.
World Road provides comprehensive cross-border logistics solutions, strategically focusing on cross-border freight services that connect China with global markets. The company operates through subsidiaries located in major cities including Shanghai, Wuhan, and Shenzhen.
World Road was founded in 2020 and booked $57 million in revenue for the 12 months ended March 31, 2026. It plans to list on the Nasdaq under the symbol WODO.
