CALM Chain files for IPO offering 3 million shares on Nasdaq

CALM Chain International Limited filed for an initial public offering of 3 million Class A ordinary shares on Thursday, according to a company statement.

The offering consists of 2 million new shares from the company and 1 million shares from selling shareholders. The shares represent 17.14% of the company's total Class A ordinary shares that will be outstanding after the offering completion.

The company set an expected price range of $5.00 to $7.00 per share. CALM Chain will not receive proceeds from the 1 million shares sold by existing shareholders.

The Class A ordinary shares are planned to trade on the Nasdaq Capital Market under ticker symbol NASDAQ: CCIL. No public market currently exists for the company's shares.

Pacific Century Securities will serve as underwriter for the offering. The completion of the IPO depends on Nasdaq Capital Market approval for listing, though the company noted no assurance exists that the application will be approved.

Following the offering, public shareholders will hold 17.14% of outstanding Class A ordinary shares, assuming the underwriter does not exercise an over-allotment option.

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