Sancai Holding Group, a real estate holding company in China, filed on Friday with the SEC to raise up to $30 million in an initial public offering.
The company commenced operations through Sancai Real Estate. It currently leases 1,267 properties from property owners. In July 2019, the company launched SanCaiJia, its SaaS solutions designed to serve the real estate rental industry and household service providers.
The Xi'an, China-based company was founded in 2017 and booked $19 million in revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol SCIT. Sancai Holding Group filed confidentially on June 30, 2020. Univest Securities is the sole bookrunner on the deal. No pricing terms were disclosed.
