707 Cayman Holdings, a Hong Kong-based provider of apparel and supply chain management solutions, filed on Thursday with the SEC to raise up to $11 million in an initial public offering.
The Hong Kong-based company plans to raise $11 million by offering 2.5 million shares (30% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, 707 Cayman Holdings would command a market value of $99 million.
707 Cayman Holdings offers a range of services to apparel brands, including market trend analysis, design and product development, sourcing, production management, quality control, and logistics, with a focus on customers in Western Europe, North America, and the Middle East. Instead of manufacturing its own products, the company partners with third-party manufacturers, primarily located in China and Vietnam.
The company was founded in 2021 and booked $10 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol MKR. Bancroft Capital is the sole bookrunner on the deal.
