Yangtze River Development files for a $50 million US IPO

Yangtze River Development, which is constructing a port logistics facility in Wuhan, China, filed on Thursday with the SEC to raise up to $50 million in a US initial public offering.

The company is currently listed on the OTC Markets, but plans to begin trading on the NYSE under the symbol YERR (Yangtze River Development).

The New York, NY-based company was founded in 2009 and did not report operating revenue during the fiscal year ended December 31, 2015. World Equity Group is the sole bookrunner on the deal. No pricing terms were disclosed.

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