MingZhu Logistics Holdings Plans $12 Million IPO for October 20th (YGMZ)

MingZhu Logistics Holdings (YGMZ) plans to raise $12 million in an IPO on Tuesday, October 20th, IPO Scoop reports. The company will be issuing 3,000,000 shares at $4.00 per share.

In the last year, MingZhu Logistics Holdings generated $29.4 million in revenue and $1.6 million in net income. MingZhu Logistics Holdings has a market-cap of $48 million.

ViewTrade Securities served as the underwriter for the IPO.

MingZhu Logistics Holdings provided the following description of their company for its IPO: ”  We are one of the fastest-growing 3A-grade trucking services providers in China with 18 years of experience in the transportation industry. We formed our first operating subsidiary in 2002 to engage in the business of trucking services and subsequently formed four other wholly owned subsidiaries.  As a result of our continuous growth, we have become the second- largest transportation company in the Guangdong region, and we have been recognized and accredited by the China Federation of Logistics and Purchasing as a 3A-Grade trucking services provider. (Note: Revenue and net income figures are for 2019, according to the prospectus.)   “.

MingZhu Logistics Holdings was founded in 2002 and has 210 employees. The company is located at 27F, Yantian Modern Industry Service Center No. 3018 Shayan Road, Yantian District, Shenzhen, Guangdong, China and can be reached via phone at (86) 755-25209839 or on the web at http://www.szygmz.com.

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