Lichen China Ltd. (LICN) Plans to Raise $25 Million in September 19th IPO

Lichen China Ltd. (LICN) plans to raise $25 million in an initial public offering on the week of September 19th, IPO Scoop reports. The company plans to issue 6,300,000 shares at $4.00 per share.

In the last year, Lichen China Ltd. generated $34.3 million in revenue and $8.5 million in net income. Lichen China Ltd. has a market cap of $79 million.

Univest Securities served as the underwriter for the IPO.

Lichen China Ltd. provided the following description of their company for its IPO: “We are a leading financial and taxation service provider in China in terms of revenue, according to the industry report of Frost & Sullivan. (Incorporated in the Cayman Islands) We have operated as a dedicated financial and taxation solution service specialist in China for over 17 years. We focus on providing (i) financial and taxation solution services; (ii) education support services; and (iii) software and maintenance services in the People’s Republic of China (PRC) under the “Lichen” brand. With over 17 years of operation history, we have gained substantial experience and established a solid reputation with our proven track record in the PRC. We launched a new business line of software and maintenance services in 2019 to expand our software product offerings to enterprise customers, universities, colleges and educational institutes and have started to generate revenue from provision of such services since then. From 2012 to 2020, we have been recognized as one of the Top 50 Providers of Management Consulting Services in China for eight consecutive years by the China Enterprise Confederation Management Advisory Committee. Note: Revenue and net income are in U.S. dollars for the year ended Dec. 31, 2021. “.

Lichen China Ltd. was founded in 2004 and has 390 employees. The company is located at B2306, Block B Tower 3, Jinjiang Wanda Plaza Commercial Complex 888 Century Avenue Meiling Street, Jinjiang Fujian Province People’s Republic of China 362000 and can be reached via phone at +86- 59585633335 or on the web at http://www.lichenzx.com/.

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