Chinese seed oil company Huake Holding Biology sets terms for $25 million US IPO

Huake Holding Biology, which makes camellia seed oil products in China, announced terms for its IPO on Tuesday.

The Lu'an City, China-based company plans to raise $25 million by offering 5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Huake Holding Biology would command a fully diluted market value of $125 million.

Huake Holding Biology, which conducts operations through controlled entity Anhui Aokai Fa Grease Technology, or Aokai Fa, produces camellia seed oil in the Anhui province of China. The company is vertically-integrated, conducting scientific research, farming, production, and sales. Its main products include Camellia oil and camellia oil cake, a camellia oil reside used as a pond cleaning agent, weed killer, bug killer, and organic fertilizer.

Huake Holding Biology was founded in 2011 and booked $15 million in sales for the 12 months ended March 31, 2021. It plans to list on the Nasdaq under the symbol HUAK. EF Hutton is the sole bookrunner on the deal.