Pitanium Limited Announces Closing of Initial Public Offering

Core Viewpoint - Pitanium Limited successfully completed its initial public offering (IPO) of 1,750,000 Class A ordinary shares at a price of $4.00 per share, with trading commencing on the Nasdaq Capital Market under the ticker symbol "PTNM" [1][2]. Group 1: Offering Details - The IPO was underwritten solely by Cathay Securities, Inc., which was granted a 45-day option to purchase an additional 262,500 Class A ordinary shares at the same price [2]. - Proceeds from the offering will be allocated to enhancing customer experience through a mobile application, developing a new line of home treatment products, expanding the product portfolio, improving marketing strategies, and general corporate purposes [2]. Group 2: Company Overview - Pitanium Limited, incorporated in the British Virgin Islands, focuses on retailing its proprietary beauty and personal care products in Hong Kong, operating both online and through six retail stores in prime shopping locations [6]. - The company emphasizes product design and development, working closely with OEM and ODM suppliers to stay ahead of market trends and meet evolving customer needs [6].