Neo-Concept International Group Holdings, a Hong Kong-based apparel retailer and supply chain services provider, filed on Wednesday with the SEC to raise up to $9 million in an initial public offering.
The company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Neo-Concept International Group Holdings would command a market value of $90 million.
Neo-Concept International offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management, serving customers located in Europe and North America. The company primarily generates revenue through the sale of private-label apparel products. It also generates revenue from retail sales of its own branded knitwear and other apparel products; its products are sold under the licensed brand "les 100 ciels" through three physical retail locations in the UK, its website, and third party online platforms.
Neo-Concept International Group Holdings was founded in 1992 and booked $30 million in sales for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol NCI. The company filed confidentially on August 30, 2022. Revere Securities is the sole bookrunner on the deal.
