Guo Jin Sheng Shi Gold Jewelry Group, which plans to acquire and operate a jewelry retailer in China, filed on Wednesday with the SEC to raise up to $7 million in an initial public offering.
The company filed to offer 1.3 million shares at a price range of $4 to $6 per share. At the midpoint of the proposed range, the company would command a fully diluted market value of $50 million.
Guo Jin Sheng Shi Gold is planning to acquire Guojin Shengshi Gold Jewelry, a jewelry retailer in China which is run by the management team of Guo Jin Sheng Shi Gold. The company states that if its plans to merge with Guojin Shengshi Gold Jewelry do not come to fruition, it will pursue other avenues to enter the Chinese jewelry retailing market.
The Jinan, China-based company was founded in 2021 and plans to list on the Nasdaq under the symbol CGGJ.