Loha, an organic food distributor in China, filed on Monday with the SEC to raise up to $38 million in an initial public offering.
The company operates under the name Lohas (Lifestyles of Health and Sustainability). For the FY18, revenue consisted of 80% distribution to wholesalers and 20% distribution to retailers; since then, it has opened up 300 smart micro mart vending machines.
The Shenzhen, China-based company was founded in 2013 and booked $99 million in sales for the 12 months ended March 31, 2019. It plans to list on a major exchange under the symbol LOHA. Loha filed confidentially on August 30, 2019. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.
