3 E Network Technology Group, a Chinese provider of software primarily for property and restaurant management applications, filed on Thursday with the SEC to raise up to $15 million in an initial public offering.
The Guangzhou, China-based company plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, 3 E Network Technology Group would command a market value of $65 million.
3 E Network Technology is a business-to-business IT business solutions provider. Operating through its PRC subsidiaries, the company's two main lines of business are software development and exhibition and conference. It offers integrated software solutions for a variety of industries and sectors, including food establishments, real estate, exhibition & conferencing, and clean energy utilities, though its main products under its custom software solutions offering include software products developed for property and restaurant management companies.
3 E Network Technology Group was founded in 2017 and booked $2 million in revenue for the 12 months ended June 30, 2023. It plans to list on the Nasdaq under the symbol EEET. The company filed confidentially on September 27, 2023. Boustead Securities is the sole bookrunner on the deal.
