ismagilov Chinese oat products maker YanGuFang International (YGF) has downsized a proposed US initial public offering by 37% to $19M. YanGuFang said in a filing that it is now considering offering 3.5M shares priced between $4 and $7, which would raise around $19M if priced at the midpoint. The company hopes to list its shares on Nasdaq under the symbol YGF. EF Hutton is serving as lead bookrunner. In a filing made in September, YanGuFang said that it was looking to offer 5M shares priced between $5 and $7, which would have raised $30M if priced at the midpoint. Based in Shanghai but incorporated in the Cayman Islands, YanGuFang operates through subsidiaries and variable interest entities, or VIEs, in China. The company is a producer and marketer of food and personal health products made from oats and grain. It markets its products primarily in China, but is looking to expand internationally, with a US launch planned for late 2022. The company has been profitable. For the fiscal year ended June 30, YanGuFang reported a net income of $6M on revenue of $36M. For more on YanGuFang, check out Donovan Jones’s “YangGuFang International Readies $30M US IPO.”