Chinese organic food distributor Loha files for a $38 million US IPO

Loha, an organic food distributor in China, filed on Monday with the SEC to raise up to $38 million in an initial public offering.

The company operates under the name Lohas (Lifestyles of Health and Sustainability). For the FY18, revenue consisted of 80% distribution to wholesalers and 20% distribution to retailers; since then, it has opened up 300 smart micro mart vending machines.

The Shenzhen, China-based company was founded in 2013 and booked $99 million in sales for the 12 months ended March 31, 2019. It plans to list on a major exchange under the symbol LOHA. Loha filed confidentially on August 30, 2019. Maxim Group LLC is the sole bookrunner on the deal. No pricing terms were disclosed.

The article Chinese organic food distributor Loha files for a $38 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


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