Pictureworks International Holdings, a Malaysia-based provider of photography services focused on theme parks, announced terms for its IPO on Tuesday.
The Petaling Jaya, Malaysia-based company plans to raise $10 million by offering 2.3 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Pictureworks International Holdings would command a market value of $114 million.
The company provides imaging services throughout Malaysia, Singapore, Hong Kong, Macau, and mainland China, with a focus on theme parks, tourist attractions, and pop culture events. The company captures, processes, and stores images, and distributes them to visitors as souvenirs. The company says it has captured over 30 million images, and has over 3 million registered users on its website and mobile app.
Pictureworks International Holdings was founded in 2003 and booked $3 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol PICW. Cathay Securities is the sole bookrunner on the deal.