Leading integrated solutions provider in the health and wellness market of China, ECMOHO Limited (NASDAQ:MOHO) on July 30, 2021, announced intent on offering American depositary shares, representing four of its Class A ordinary shares. The firm aims to utilize proceeds for working capital and general needs. However, the offering will be subjected to market conditions and there is no assurance if can be completed.
The offering is being done to an effective shelf registration statement on Form F-3. An initial prospectus supplement as well as a prospectus detailing the terms of the offering will be filed with the regulatory body and will also be available on its website.
ECHOMO also announced the recent launch of the B2B marketing and supply platform for upgrading its digital supply chain. This will result in empowering its partners in the future of the work model for ensuring a robust supply chain.
Ms. Zoe Wang, Chairman, and CEO of ECMOHO, said that the firm’s marketing, as well as the B2B supply platform, has a number of categories including nutrition and supplements, health foods, medical equipment, maternal and infant health for meeting different needs.
Wang also highlighted that that platform is compatible with services and logistics enabling systems and would give its partner brands professional and accurate information services benefitting interactions within the health supply chains.
The company is aiming to have a Gross Merchandise Value of over 100 million RMB this year.