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Chinese freight platform ForU Worldwide files for a $100 million US IPO

May 13, 2021

ForU Worldwide, which operates a tech-driven road freight transportation platform in China, filed on Thursday with the SEC to raise up to $100 million.

ForU states that it is the largest technology-driven road freight transportation platform in China by 2020 revenue. The foundation of its platform includes data insights, technology capabilities, and strong operational know-hows. Its platform consists of Freight-as-a-Service, shippers, carriers, and its ForU Brain. As of March 31, 2021, ForU had delivered approximately 3.2 million loads cumulatively through its platform.

The Beijing, China-based company was founded in 2015 and booked $622 million in revenue for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol FOYO. ForU Worldwide filed confidentially on March 10, 2021. Goldman Sachs, UBS Investment Bank, and CICC are the joint bookrunners on the deal. No pricing terms were disclosed.