Park Ha Biological Technology, which sells skincare and cosmetic products in China, filed on Monday with the SEC to raise up to $7 million in an initial public offering.
The Wuxi, China-based company plans to raise $7 million by offering 1.2 million shares at a price range of $5 to $7. At the midpoint of the proposed range, Park Ha Biological Technology would command a market value of $157 million.
Operating through a combination of directly-owned stores and a growing network of franchisees across China, Park Ha's product line ranges from basic skin physical protection, exfoliation, and sebum film repairing to surface microecological balance and anti-aging. This includes nearly 200 items across 18 series focused on solutions for problematic skin.
The company was founded in 2016 and booked $2 million in revenue for the 12 months ended April 30, 2024. It plans to list on the Nasdaq under the symbol PHH. Park Ha Biological Technology filed confidentially on December 29, 2023. Dawson James and EF Hutton are the joint bookrunners on the deal.
