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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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