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Park Ha Biological Technology (Nasdaq: PHH) has successfully completed its Initial Public Offering, raising $4.8 million through the sale of 1,200,000 ordinary shares at $4.00 per share. Trading began on the Nasdaq Capital Market on December 27, 2024, under the symbol 'PHH'.
The company, which specializes in private skincare labels, direct sales, and franchise alliance promotions, has granted underwriters a 45-day option to purchase up to 180,000 additional shares. The net proceeds will be used to expand directly-owned stores in China, purchase product patents for proprietary development, and acquire ingredient suppliers to reduce production costs.
Dawson James Securities and D. Boral Capital served as underwriters for this firm commitment offering.
Park Ha Biological Technology, a Chinese skincare company, announced the pricing of its Initial Public Offering (IPO) of 1,200,000 ordinary shares at $4.00 per share, expecting to raise $4.8 million in gross proceeds. The shares will trade on the Nasdaq Capital Market under symbol PHH starting December 27, 2024.
The underwriters have a 45-day option to purchase up to 180,000 additional shares. The IPO proceeds will fund expansion of directly-owned stores in China, purchase of product patents for proprietary products, and acquisition of ingredient suppliers to reduce production costs. Dawson James Securities and D. Boral Capital are serving as underwriters for the offering, which is expected to close around December 30, 2024.
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