Opening Day: New Century Logistics completes $6M IPO

Shares of New Century Logistics opened for trading on Wednesday. The international freight forwarding company and logistics service provider offered 1.5M shares at a $4 each, raising $6M before underwriting discounts and other related expenses.

LATEST IPOS AND DIRECT LISTINGS:

New Century Logistics (NCEW) opened on December 19 at $4. The company had priced its initial public offering of 1.5M ordinary shares at a public offering price of $4.00 per share. New Century is an international freight forwarding company and logistics service provider whose customers include direct shippers and other freight forwarders.

YSX Tech (YSXT) opened on December 18 at $4.05. The company had priced 1.25M shares at $4.00, at the low end of the $4.00-$6.00 range. YSX Tech is a Cayman Islands exempted company that, through its variable interest entities in China, provides comprehensive business solutions mainly for insurance companies and brokerages in China.

END OF THE WEEK PERFORMANCE:

• New Century Logistics – $2.50;
• YSX Tech – $4.50.

RECENT IPOS TO WATCH: Pony AI (PONY), Brazil Potash (GRO), BrilliA (BRIA), Wing Yip Food (WYHG), and Creative Global Tech (CGTL)are among stocks that could see new coverage roll out this upcoming week as the quiet periods for banks that underwrote the companies’ IPOs expire.

UPCOMING IPOS: Upcoming IPO and direct listings expected include JAJI Global, Infinity Natural Resources (INR), Basel Medical Group (BMGL), EPWK Holdings (EPWK), Fast Track Group (FTRK), and ShipBob.

Click here to see upcoming IPO calendar on TipRanks.

CLPS (CLPS) announced that its majority-owned subsidiary, JAJI Global, has filed a registration statement on Form F-1 with the U.S. SEC relating to a proposed initial public offering of JAJI’s ordinary shares. Following the offering, CLPS expects to hold a significant voting interest in JAJI along with a corresponding economic interest in its subsidiaries. The number of shares to be offered and the price range for the offering have not yet been determined. JAJI intends to list its common stock on The Nasdaq Capital Market. According to the F-1, JAJI currently has a total share capital of 10M shares, of which CLPS holds 60%. The funds raised from this IPO will primarily be used for product development, mergers and acquisitions, global expansion, and company operations to drive JAJI’s sustained growth.

Infinity Natural Resources filed for an initial public offering of its Class A common stock. The company intends to list its Class A common stock on the NYSE under the symbol “INR.” Infinity Natural Resources is an independent exploration & production company “dedicated to the Appalachian region.”

Basel Medical Group filed for an initial public offering on the Nasdaq under the symbol “BMGL.” Cathay Securities is serving as the underwriter on the deal. Basel is a healthcare provider across Singapore and Southeast Asia.

EPWK Holdings filed an initial public offering of 2.75M Class A ordinary shares. The company expects the initial public offering price will be between $4.00-$6.00 per Class A ordinary share, and has applied to list the shares on the Nasdaq Global Market under the symbol “EPWK.”

Fast Track Group filed for an initial public offering of 3M ordinary shares. It is currently estimated that the initial public offering price per share will be between $4.00-$5.00. The company has applied to list its shares on the Nasdaq Capital Market under the symbol “FTRK.”

ShipBob has selected JPMorgan (JPM) to lead its planned listing, Bloomberg’s Amy Or, Gillian Tan, and Ryan Gould report, citing people familiar with the situation. The Chicago-based e-commerce fulfillment service provider has also chosen Citigorup (C) as part of the syndicate, the authors say. An initial public offering could occur as soon as later this year and could value the company at $4B, the authors note.

Opening Day” is The Fly’s recurring series of stories on the latest initial public offerings, their performance, and upcoming IPOs.