Hong Kong freight forwarding service provider CGL Shipping (CGL.US) increases IPO size by 67%, plans to raise 25 million USD

According to Zhihong Finance APP, CGL Logistics Holdings (CGL.US), a freight forwarding service provider headquartered in Hong Kong, China, raised the proposed size of its upcoming IPO last Friday.

CGL Logistics now plans to raise $25 million by issuing 6.3 million shares at $4 per share. The company had previously filed to issue 3.8 million shares at $4 per share. The current fundraising amount will be 67% higher than previously expected, bringing the market capitalization to $85 million.

The company provides freight forwarding services through its operating subsidiaries, including sea, air, and rail freight forwarding, which involves transporting goods, merchandise, or project components from one location to another, and offering pick-up, warehousing, and/or customs declaration/inspection services as instructed by clients. CGL Logistics also offers agency logistics services.

Founded in 1999, CGL Logistics achieved revenue of $22 million in the twelve months ended March 31, 2026. The company plans to list on Nasdaq under the ticker symbol "CGL". The sole bookrunner for this offering is Arc Group Securities, replacing the previous bookrunner Revere Securities.