Farglory Logistics Co., Ltd announced a private placement of 51,900,000 common shares at the price of $10 per common share for gross proceeds of $519,000,000 on May 8, 2024. The transaction includes participation from returning investor Farglory Free Trade Zone Investment Holding Co., Ltd. The transaction has been approved by the board of directors of the company. The transaction is expected to close between May 16, 2024 to May 21, 2024.