ismagilov
China-focused food distributor Fortune Valley Treasures (OTCPK:FVTI) said in a filing that it is still looking to uplist its shares to Nasdaq and raise around $25M through a public offering.
In its latest filing, the company said it is looking at offering 6.3M shares at the assumed price of $4 per share. Joseph Stone Capital is serving as lead bookrunner.
The company’s shares are traded OTC under the symbol FVTI. Fortune Valley hopes to list the shares on Nasdaq under the same symbol.
Incorporated in Nevada, Fortune Valley conducts business through subsidiaries in China. The company is a purchaser, supplier and distributor of a wide variety of food-related products, including alcoholic and non-alcoholic beverages, packaged foods and home water purification devices.
Fortune Valley is profitable. For 2021, the company reported a net income of $2M on revenue of $8M. The company first filed to uplist its shares in December 2021.
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Image and article originally from seekingalpha.com. Read the original article here.