SU Group Holdings, which provides security-related engineering services in Hong Kong, raised $5 million by offering 1.3 million shares at $4, the low end of the range of $4 to $5.
SU Group provides security-related engineering services through subsidiary Shine Union, as well as security guarding and screening services and related vocational training services through subsidiary Fortune Jet, which it acquired in 2019. Shine Union offers turnkey services to the existing infrastructure or planned development of its customers through the design, supply, installation, and maintenance of security systems. With respect to its security-related engineering services, the company has had business relationships with over 300 customers, some of which have lasted 10+ years.
SU Group Holdings plans to list on the Nasdaq under the symbol SUGP. The Benchmark Company acted as sole bookrunner on the deal.
