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Jayud Global Logistics (JYD), a provider of cross-border logistics services in China, has applied to raise $12 million through a US initial public offering.
Khayud did not specify in his filing the size or price of the deal, but indicated in is filing fee schedule which was looking to raise around $12 million. Benchmark is serving as the lead bookrunner.
The company expects to list its shares on Nasdaq under the symbol JYD.
Incorporated in the Cayman Islands, Jayud is headquartered in Shenzhen, which is part of the economic hub of the Greater Bay Area that also includes Guangdong, Hong Kong, and Macao.
Khayud has been operating in the black. For the six-month period ended June 30, the company reported net income of $1.4 million on revenue of $67.7 million.
Chinese logistics company Shengfeng (SFWL) is also seeking a US listing. The company recently cut its initial public offering by 46% to $14 million.