Star Fashion Culture Holdings, which provides marketing services in China, lowered the proposed deal size for its upcoming IPO on Monday.
The Xiamen, China-based company now plans to raise $12 million by offering 2.6 million shares at a price range of $4 to $5. The company had previously filed to offer 3 million shares at the same range. At the midpoint, Star Fashion Culture Holdings will raise 13% less in proceeds than previously anticipated.
Star Fashion is a content marketing solutions services provider in China. The company offers services focusing on marketing campaign planning and execution, offline advertising services, and online precision marketing services. It assists customers in enhancing the effectiveness of their marketing activities and brand value with the capabilities of project planning, design, operation, and execution.
Star Fashion Culture Holdings was founded in 2015 and booked $10 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol STFS. WestPark Capital is the sole bookrunner on the deal.
