Hebei Lansheng Biotech Co., Ltd.
Beijing Multigrass Formulation Co., Ltd.

Chinese fertilizer producer Muliang Agritech files for a $12 million Nasdaq IPOqrcode

Dec. 11, 2019

Favorites Print
Forward
Dec. 11, 2019
Muliang Agritech, a Chinese producer of organic fertilizer and agricultural products, filed on Tuesday with the SEC to raise up to $12 million in an initial public offering.

The company originally filed for an IPO in June 2019, but until now the deal had been marketed as a min-max offering, which made it ineligible for Renaissance Capital tracking.

It currently trades by appointment only on the OTCQB ("MULG") and last closed at $7 per share, giving it a market cap of $261 million. The company would command a $187 million market cap based on the indicated sale price of selling shareholders ($5 per share), who have registered for an additional $42 million shelf offering.

The Shanghai, China-based company was founded in 2014 and booked $13 million in sales for the 12 months ended September 30, 2019. It plans to list on the Nasdaq under the symbol MULG. Network 1 Financial Securities is the sole bookrunner on the deal. No pricing terms were disclosed.

Picture 0/1200

More from AgroNews

Magazine

2020 Biologicals Special 2020 Latin America Focus
2020 Formulation & Adjuvant Technology Annual Review 2019
Chinese issue of Annual Review 2019 2019 CRO & CRAO Manual
I wanna post a press Comment

Subscribe 

Subscribe Email: *
Name:
Mobile Number:  

Comment  

Picture 0/1200

Subscribe to daily email alerts of AgroNews.