Powell Max, which provides financial communication services in Hong Kong, filed on Friday with the SEC to raise up to $8 million in an initial public offering.
The Hong Kong-based company plans to raise $8 million by offering 1.7 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Powell Max would command a market value of $71 million.
Powell Max provides financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Its services cover a full range of financial printing, corporate reporting, communications, and language support services from inception to completion. The company's clients consist of domestic and international companies listed on the Stock Exchange of Hong Kong, as well as companies who are seeking to list in Hong Kong and their advisors.
Powell Max was founded in 2019 and booked $6 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol PMAX. The company filed confidentially on March 19, 2024. Revere Securities is the sole bookrunner on the deal.
