- Haoxin Holdings Limited prices its IPO at $4.00 per share, aiming to raise $7 million.
- Trading is expected to begin on Nasdaq Capital Market on April 15, 2025, under ticker HXHX.
- Proceeds are planned for vehicle purchases, strategic acquisitions, IT upgrades, and general capital.
Haoxin Holdings Limited (HXHX, Financial), a Chinese firm specializing in temperature-controlled truckload and urban delivery services, has announced the pricing of its initial public offering (IPO). The company offers 1,750,000 Class A ordinary shares at a price of $4.00 each, targeting gross proceeds of $7 million before deductions.
The shares are anticipated to start trading on the Nasdaq Capital Market on April 15, 2025, using the ticker symbol 'HXHX'. Underwriters hold a 45-day option to acquire up to 262,500 additional shares. The IPO closure is projected for April 16, 2025.
The IPO proceeds are earmarked for several initiatives, including the acquisition of new vehicles, forming business alliances, upgrading IT systems, and general working capital support. Craft Capital Management and WestPark Capital are leading the underwriting process.
Haoxin Holdings' entry into the U.S. capital markets represents a strategic move to leverage international investment opportunities amid ongoing regulatory considerations. Despite the relatively small IPO size, the structured plan for utilizing the funds underscores the company's emphasis on enhancing operational capacity and competitive positioning within China's logistics sector.
