- Haoxin Holdings Limited (HXHX, Financial) completed its IPO, raising $7 million in gross proceeds.
- The initial public offering consisted of 1,750,000 Class A ordinary shares priced at $4 each.
- Trading commenced on the Nasdaq Capital Market on April 15, 2025, under the ticker "HXHX".
Haoxin Holdings Limited (HXHX), a Chinese company specializing in temperature-controlled truckload and urban delivery services, has successfully closed its initial public offering (IPO). The company offered 1,750,000 Class A ordinary shares at a price of $4 per share, generating gross proceeds of $7 million before underwriting discounts and other associated expenses.
The shares began trading on the Nasdaq Capital Market on April 15, 2025, under the ticker symbol "HXHX". The IPO was conducted on a firm commitment basis with Craft Capital Management LLC and WestPark Capital, Inc. acting as the representatives for the offering. The underwriters have been granted a 45-day option to purchase an additional 262,500 Class A ordinary shares at the offering price, which could potentially increase the total proceeds by approximately $1.05 million if fully exercised.
The current trading price for HXHX is $3.11, reflecting a 22.25% decrease from the initial offering price. This suggests that initial investor demand may be below expectations. Despite the modest scale of the $7 million capital infusion, the funds provide Haoxin with resources for potential expansion in its fleet, enhancements in technology systems, or network extensions across additional Chinese markets.
Haoxin Holdings operates within a specialized niche of the logistics sector in China, providing essential services for perishable goods and challenging urban delivery tasks in densely populated areas. While the public listing enhances the company's visibility and financial flexibility, the absence of detailed plans for capital deployment makes it challenging to ascertain its impact on Haoxin's competitive position within the sector.
