Core Viewpoint - Hang Feng Technology Innovation Co., Ltd. successfully completed its initial public offering, raising US$5.5 million by offering 1,375,000 ordinary shares at a price of US$4.0 per share, with trading commencing on Nasdaq under the ticker symbol "FOFO" [1][2]. Group 1: Offering Details - The initial public offering consisted of 1,375,000 ordinary shares priced at US$4.0 each, generating gross proceeds of US$5.5 million before expenses [1]. - The underwriters have a 45-day option to purchase an additional 206,250 ordinary shares at the public offering price [1]. - The offering was conducted on a firm commitment basis, with Kingswood Capital Partners, LLC serving as the underwriter [3]. Group 2: Use of Proceeds - Proceeds from the offering will be allocated to strengthening the corporate management consulting business, developing the asset management business, driving business expansion and strategic partnerships, and supporting general working capital and operations [2]. Group 3: Company Background - Hang Feng Technology Innovation Co., Ltd. is based in Hong Kong and provides comprehensive corporate management consulting and specialized asset management services [6]. - The company has been offering consulting services since 2023 through its subsidiary, Starchain Investment Trading Limited, focusing on strategic growth insights and regulatory compliance [6]. - In 2024, the company launched asset management services to meet client demand for sophisticated solutions in managing and growing capital portfolios [6].
Hang Feng Technology Innovation Co., Ltd. Announces Closing of Initial Public Offering