Chinese agricultural B2B e-commerce platform YMT.US plans to conduct an IPO in the United States, with plans to raise up to 40 million US dollars.

Leading agricultural industry internet company in China, Yimutian (YMT.US), submitted an application to the U.S. Securities and Exchange Commission on Monday, planning to raise up to 40 million U.S. dollars through an initial public offering (IPO). Yimutian stated that by 2024, it is the largest agricultural B2B platform in mainland China based on the number of monthly active merchants. The company offers a comprehensive range of digital solutions to facilitate transactions within the Shenzhen Agricultural Power Group, covering aspects from search and matching to transaction facilitation and settlement. As of December 31, 2024, the platform has over 38 million merchants and provides approximately 21 million SKUs. Founded in 2011, the company generated 22 million U.S. dollars in revenue in the 12 months ending December 31, 2024. The company plans to list on the Nasdaq under the ticker symbol YMT. UP Fintech Holding Ltd. Sponsored ADR Class A is the sole underwriter for this transaction. The company has not yet disclosed the pricing terms.