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Financial and taxation services provider Lichen China files and sets terms for a $25 million US IPO

May 2, 2022

Lichen China, a Chinese financial and taxation services provider, filed on Monday with the SEC to raise up to $25 million in an initial public offering.

The Jinjiang, China-based company plans to raise $25 million by offering 6.3 million shares at a price of $4. At the proposed price, Lichen China would command a market cap of $115 million.

Lichen China describes itself as a leading financial and taxation service provider in China. The company provides financial and taxation solution services, education support services, and software and maintenance services under the “Lichen” brand. Lichen China works with “Partnered Institutions” across 12 provinces and 23 cities in China, providing education support services to them while leveraging their networks to promote its brand and services.

The company was founded in 2004 and booked $34 million in revenue for the twelve months ended December 31, 2021. It plans to list on the Nasdaq under the symbol LICN. Lichen China filed confidentially on August 12, 2021. Univest Securities is the sole bookrunner on the deal.