Powell Max, which provides financial communication services in Hong Kong, raised $5.7 million by offering 1.43 million shares at $4, the low end of the range of $4 to $6. It had originally filed to offer 1.65 million shares.
Based in Hong Kong, China, 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 plans to list on the Nasdaq under the symbol PMAX. WallachBeth Capital acted as sole bookrunner on the deal.
