Jusda International Ltd (准時達國際), a logistics arm of Hon Hai Precision Industry Co (鴻海精密), is considering raising funds from private investors ahead of a potential initial public offering (IPO) as early as next year, people familiar with the matter said.
The supply chain management platform is seeking to raise US$300 million to US$400 million in a so-called pre-IPO round, the people said, asking not to be identified because the matter is private.
The company, which has a valuation of as much as US$4 billion, would use the proceeds for expansion amid a boom in logistics services, the people said.
The company is also in the early stages of evaluating a potential listing in Hong Kong in the second half of next year, the people said.
No final decision has been made as considerations are preliminary, and details such as the size of the fundraising could still change, the people said.
Jimmy Huang (黃欽旻), spokesman of Hon Hai, also known globally as Foxconn Technology Group (富士康科技集團), said Jusda has no plan for an IPO right now, and declined to comment on the fundraising.
Jusda has more than 2.5 million square meters of warehouse space at 150 locations around the world, with more than 1,500 air, ocean and truck routes, according to its Web site.
Besides managing the transportation of goods for Hon Hai, which is the largest assembler of Apple Inc’s iPhones, Jusda also serves as a logistics platform for more than 1,000 global brand customers.
The company, which provides services to industries including electronics manufacturing, automotive and consumer goods, raised about 2.4 billion yuan (US$376 million) in a series A round in 2019, the Web site shows.
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