Yimutian (YMT), which operates an agricultural business-to-business platform in mainland China, priced its initial public offering of 5.01M American depositary shares, each representing 25 Class A ordinary shares, at a price of $4.10 per ADS. The company is offering 4.52M ADSs, and the selling shareholders are offering 488K ADSs. The company intends to use the net proceeds from the offering for the enhancement and expansion of its digital agricultural commerce services of its apps, the development of technological infrastructure and product operations in relation to its new business initiatives, the expansion of its agricultural sourcing and trading services and working capital and general corporate purposes.
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