Samfine Creation Holdings Group, a Hong Kong-based provider of printing services, lowered the proposed deal size for its upcoming IPO on Friday.
The company now plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. The company had previously filed to offer 2.5 million shares at the same range. At the midpoint, Samfine Creation Holdings Group will raise 20% less in proceeds than previously anticipated.
Through its operating subsidiaries, the company offers a wide range of printed products including book products, like educational books and notebooks, and novelty and packaging products, like handcraft products and pop-up books. Its customers are primarily book traders in Hong Kong whose clients are located around the world, mainly in the US and Europe. Samfine Creation's operating subsidiaries have extensive experience in customized and personalized book printing.
Samfine Creation Holdings Group was founded in 1993 and booked $15 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol SFHG. Revere Securities is the sole bookrunner on the deal.
