Hong Kong freight forwarding service provider China Global Logistics (CGL.US) has raised its IPO size by 67%, planning to raise $25 million.

Hong Kong-based freight forwarding service provider CGL Logistics Holdings (CGL.US) raised the proposed transaction size for its upcoming IPO last Friday. CGL Logistics now plans to raise $25 million by issuing 6.3 million shares at a price of $4 per share. The company had previously applied to issue 3.8 million shares at the same price. The current fundraising amount represents a 67% increase from prior expectations, with a market valuation of $85 million. The company offers freight forwarding services through its operating subsidiaries, which include sea, air, and rail freight forwarding. This means the company transports goods, products, or project components from one location to another and provides pick-up, warehousing, and/or customs clearance/inspection services as directed by customers. CGL Logistics also provides agency logistics services. Founded in 1999, CGL Logistics achieved revenue of $22 million for the 12 months ending March 31, 2026. The company plans to list on NASDAQ under the ticker symbol "CGL." The sole bookrunner for this transaction is Arc Group Securities, replacing Revere Securities, which previously held that position.