Top Win International, a Hong Kong-based luxury watch wholesaler, filed on Monday with the SEC to raise up to $13 million in an initial public offering.
The company plans to raise $13 million by offering 2.7 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Top Win International would command a market value of $124 million.
Through its operating subsidiary, Top Win is a wholesaler engaged in trading, distribution, and retail of luxury watches of international brands. The company sources luxury products directly or indirectly from authorized dealers, distributors, and brand owners, located in Europe, Japan, Singapore, and elsewhere, and sells them to customers, comprising independent watch dealers, watch distributors, and retail buyers within the watch industry. Top Win currently offers a selection of over 30 internationally renowned watch brands and targets customers in the middle- to high-income range.
Top Win International was founded in 2001 and booked $15 million in sales for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol TOPW. The company filed confidentially on August 16, 2024. Revere Securities is the sole bookrunner on the deal.
