Raytech Holding, which sources and wholesales personal care electrical appliances, filed on Friday with the SEC to raise up to $14 million in an initial public offering.
The Hong Kong-based company plans to raise $14 million by offering 3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Raytech Holding would command a market value of $86 million.
Operating through subsidiary Pure Beauty, the company sources and wholesales personal care electrical appliances for international brand owners. Products it covers include hair styling appliances, trimmers, and eyelash curlers, among others, though it specializes in sourcing and wholesaling hair dryers. The company also provides value-added services including product design and development collaboration. The majority of Raytech's customers are international brand owners who predominantly market their personal care electrical appliances in Japan.
Raytech Holding was founded in 2013 and booked $6 million in sales for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol RAY. The company filed confidentially on October 21, 2022. Revere Securities is the sole bookrunner on the deal.
