NeutralSeeking Alpha
2 months ago
Shenni Holdings Aims For US IPO As Business Model Is In Flux
Shenni Holdings Limited seeks to raise $15 million in an IPO to fund growth and working capital, increasing its focus on distributing third-party medical devices. The firm is growing quickly but faces significant customer concentration risks and is transitioning to a potentially lower-margin distribution model. Financials show increasing revenue and gross profit but lower gross margin and cash flow, with a high valuation multiple of 35x EV/EBITDA.
