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China Digest: Muliang eyes $40m Nasdaq IPO; neoX Biotech, Resproly raise fresh capital
Source: Markus Winkler/Unsplash
February 2, 2021
Chinese fertiliser producer Muliang is seeking to raise $40 million in a Nasdaq IPO, while biotech startup neoX Biotech and inhalation therapy developer Resproly have closed new funding rounds to expand operations.
Fertiliser producer Muliang to raise $40m in Nasdaq IPO
Chinese fertiliser producer Muliang Viagoo Technology (MLVG) is seeking to raise $40 million on the Nasdaq this week by offering 10 million shares at a price of $4 apiece. At the proposed deal size, Muliang would command a market cap of $194 million.
Formed in 2014 under the laws of the state of Nevada, US, Muliang conducts business primarily through Shanghai Muliang, a variable interest entity (VIE) created under the laws of China, to engage in the manufacturing and distribution of organic fertilisers and the sales of agricultural products in China. Its organic fertiliser produ