New Century Logistics (BVI) Ltd. (NCEW) to Raise $6 Million in IPO

New Century Logistics (BVI) Ltd. (NCEW) expects to raise $6 million in an IPO on Wednesday, December 18th, IPO Scoop reports. The company plans to issue 1,300,000 shares at a price of $4.00-$5.00 per share.

In the last year, New Century Logistics (BVI) Ltd. generated $41.9 million in revenue and $580,000 in net income. The company has a market cap of $95.6 million.

Craft Capital Management and R.F. Lafferty & Co. served as the underwriters for the IPO.

New Century Logistics (BVI) Ltd. provided the following description of their company for its IPO: “We are the holding company for a Hong Kong-based business specializing in the logistics of air and ocean freight forwarding. (Incorporated in the British Virgin Islands) We are a well-established freight forwarding service provider founded and based in Hong Kong. Our history can be traced back to 2002 when NCL (HK) was incorporated and when it commenced its operation as a freight forwarder in 2004. We provide air and ocean export and import freight forwarding services ranging from the sale of cargo space, cargo pick up, off-airport air cargo security screening, palletization, preparation of shipping documentation, arrangement of customs clearance to cargo handling at ports. Since our inception, we have offered routes to over 140 countries to our customers. The Company is managed and run by a group of professionals with over 20 years of combined expertise in the Air and Ocean freight industries in Hong Kong. We have a robust network that works closely with well-established agents to manage both incoming and outgoing traffic for all other nations as well. These representatives are handpicked to maintain a uniformly high standard of service for our clients all across the world. *Note: Net income and revenue are in U.S. dollars for the 12 months that ended March 31, 2024. (Note: New Century Logistics (BVI) Ltd. cut its IPO in half – to 1.25 million shares – down from 2.5 million shares originally – and kept the price range at $4.00 to $5.00 – to raise $5.63 million ($5.625 million). Craft Capital Management and R.F. Lafferty & Co. are the joint book-runners, replacing Prime Number Capital.) (Background:  New Century Logistics (BVI) Ltd. filed an F-1/A dated Oct. 10, 2023, in which it named Prime Number Capital as its sole book-runner, replacing Craft Capital Management. Background: New Century Logistics (BVI) Ltd. filed its F-1 dated Aug. 21, 2023, in which it disclosed the terms for its micro-cap IPO: 2.5 million ordinary shares at $4.00 to $5.00 to raise $11.25 million.) “.

New Century Logistics (BVI) Ltd. was founded in 2002 and has 36 employees. The company is located at Office A-E, 33/F, King Palace Plaza, 55 King Yip Street, Kwun Tong, Kowloon, Hong Kong and can be reached via phone at +852 2148 6328 or on the web at https://www.nclogistics.com.hk/.