Key Takeaways:
Logistics giant Lala Tech, the parent company of Lalamove, has submitted an application for an initial public offering on the Hong Kong Stock Exchange, seeking to capitalize on revenue that topped $1 billion in 2022.
The proposed listing is jointly sponsored by a trio of Wall Street heavyweights: Goldman Sachs, BofA Securities, and J.P. Morgan.
The filing reveals a compound annual growth rate of 39.9% as total platform revenue surged from $529 million in 2020 to $1.036 billion in 2022.
Based on closed-loop gross transaction value, Lala Tech ranked as the world’s largest logistics transaction platform in the first half of 2022, operating in over 400 cities across 11 global markets.
The company operates as a tech-enabled, data-driven platform connecting users with a vast network of delivery and logistics services. Its filing with the HKEX Main Board did not yet disclose the proposed ticker, deal size, offer price, or a specific timeline for the listing.
Details regarding cornerstone investors, use of proceeds, and potential valuation metrics have also not yet been made public.
The filing gives the company a path to a public listing, with the next step being the release of a detailed prospectus. The eventual offer price and valuation will test institutional demand for tech-enabled logistics firms against a volatile global market backdrop.
This article is for informational purposes only and does not constitute investment advice.
