Jowell Global, which operates an e-commerce platform for cosmetics and health products in China, filed on Monday with the SEC to raise up to $26 million in an initial public offering.
The Shanghai, China-based company plans to raise $26 million by offering 3.7 million shares at $7. At the proposed deal size, Jowell Global would command a market value of $174 million.
Jowell Global is one of leading cosmetics, health and nutritional supplements, and household products e-commerce platforms in China, offering both its own brand of products as well as products from international and domestic branded products from 200+ manufacturers. It currently operates through four sales channels: online direct sales, authorized retail store distribution, third-party merchants, and live streaming marketing.
Jowell Global was founded in 2012 and booked $73 million in sales for the 12 months ended June 30, 2020. It plans to list on the Nasdaq under the symbol JWEL. The company filed confidentially on July 13, 2020. Network 1 Financial Securities is the sole bookrunner on the deal.
The article Chinese e-commerce platform Jowell Global files and sets terms for a $26 million US IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.
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