CTRL Group, a Hong Kong-based provider of ad services to mobile game developers, announced terms for its IPO on Tuesday.
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, CTRL Group would command a market value of $68 million.
CTRL Group is an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market. The company provides services throughout the entire advertising process, which comprises the planning, creating, launching, managing, and performance monitoring of the ads. Its clients are primarily from China, and its advertising market is Hong Kong.
CTRL Group was founded in 2014 and booked $6 million in revenue for the 12 months ended September 30, 2023. It plans to list on the Nasdaq under the symbol MCTR. Revere Securities is the sole bookrunner on the deal.
