Alpha Technology Group, which provides software development and other services in Hong Kong, raised $7 million by offering 1.8 million shares at $4, the low end of the range of $4 to $5.
Concurrently, existing shareholders registered 2 million shares for sale via a separate resale prospectus.
Through its operating subsidiaries, the company provides cloud-based IT services in Hong Kong, including system development services, web and mobile application development services, AI powered optical character recognition services, and technological support, maintenance, and other services. The company also started providing NFT-related services in 2022. Alpha Technology Group has primarily generated revenue from its system development services business, which is mainly focused on the development of cloud-based customer relation management and enterprise resource planning systems on a project-by-project basis.
Alpha Technology Group plans to list on the Nasdaq under the symbol ATGL. Prime Number Capital acted as sole bookrunner on the deal.
