Consumer Staples Author: Pili Yang Jan 07, 2021 10:00 PM (GMT+8)

Qilian is planning to raise USD 35 million on the Nasdaq.


·         Qilian International could be the first Chinese company to take its shares to Nasdaq Global Market in 2021.

·         In 2020, the number of Chinese companies' listings in the US reached a six-year high.

Qilian International Holding Group Limited plans to raise around USD 35 million with an initial public offering on the Nasdaq under the ticker QLI as early as next week, according to people familiar with the deal. This could be the first US-listed Chinese IPO in 2021.

The company is offering 5,000,000 of its American depositary shares (ADSs) at an indicative range between USD 5 to USD 7 apiece, for a total offering size up to USD 40.25 million, assuming the underwriters exercise their option to purchase up to an aggregate of 750,000 additional ADSs.

With over 50 years of history, Qilian International is a pharmaceutical and chemical company based in China that focuses on the development, manufacture, marketing and sale of licorice products, oxytetracycline and other active pharmaceutical ingredients, traditional Chinese medicine derivatives (TCMD) products, heparin sodium products, sausage casings and organic fertilizers.

According to Qilian International's SEC filing, the company made USD 5.17 million in net income on revenues of USD 50.37 million for the year ended September 30, 2018, and USD 5.33 million in net income on revenues of USD 46.10 million for the year ended September 30, 2019.

In 2020, Chinese companies' listings in the United States reached a six-year high. Major Chinese IPOs in the country this year included financial technology company Lufax (LU:NYSE) and online real estate platform KE Holdings (BEKE:NYSE), both of which ranked among the ten largest public offerings in America last year.

The recent listings and their stock performance were nothing but crazy. Oriental Culture (OCG:NASDAQ) stock skyrocketed 83.25% within two days since its IPO on December 15, 2020. Wunong Net Technology (WNW:NASDAQ) stock was up 2,300% within its first three trading days on Nasdaq. Now, Qilian International is expected to excite public investors and make its debut as the first Chinese IPO, carrying over the momentum since late 2020.

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