Speed Group Holdings Boosts IPO Target by 50%, Aims for $17 Million

Stock News02-06

Hong Kong-based cross-border freight forwarder and logistics service provider Speed Group Holdings (SPED.US) has increased the fundraising target for its upcoming initial public offering. The company now plans to offer 3.8 million shares at a price range of $4 to $5 per share, aiming to raise $17 million. This replaces a previous filing to offer 2.5 million shares within the same price range. Based on the midpoint of the revised offering size, Speed Group's fundraising amount will be 50% higher than originally anticipated. The company's post-listing market capitalization is estimated to reach $84 million.

Speed Group, operating through its subsidiary Speed Logistics, provides services across North America, Asia, and Europe. Its business segments include e-commerce logistics, which accounted for 87% of its fiscal 2025 revenue, freight forwarding (12%), and customized warehousing and distribution services (1%). The company's primary clients are online shopping platforms, while its suppliers include multinational airlines and express delivery logistics firms. Its largest single customer contributed approximately 82% of its fiscal 2025 revenue.

Founded in 2021, Speed Group intends to list on the Nasdaq under the ticker symbol "SPED." R.F. Lafferty & Co. is acting as the sole book-running manager for the IPO.

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