NetPlast Technology (NPT.US) IPO priced at $4-5 per share, aiming to raise $9 million.

Chinese plastic and chemical distributor NetPlastech (NPT.US) announced its IPO terms on Monday. The Shanghai-based company plans to issue 2 million shares of stock at a price of $4 to $5 per share, raising $9 million. Based on the midpoint of the proposed price range, NetPlastech's market value will reach $99 million. NetPlastech offers over 3600 stock keeping units (SKU) of plastic and chemical products, aiming to provide a one-stop purchasing service for its 2213 suppliers and 3528 customers. Its solutions include product search and matching, recommendations, order management and payment, as well as logistics distribution services. Founded in 2011, NetPlastech had sales of $673 million for the 12 months ending June 30, 2024. The company plans to list on the NASDAQ under the ticker symbol "NPT". D. Boral Capital is the sole bookrunner for this transaction.