Rise Smart Group Holdings, which provides services to students in Hong Kong seeking higher education abroad, raised the proposed deal size for its upcoming IPO on Friday. In its latest filing, the company also disclosed financials for the six months ended June 30, 2024, and replaced its bookrunners.
The Hong Kong-based company now plans to raise $7 million by offering 1.8 million shares at $4. The company had previously filed to offer 1.3 million shares at a range of $4 to $6. At the revised terms, Rise Smart Group Holdings will raise 15% more in proceeds than previously anticipated.
Through its Hong Kong operating subsidiary, Rise Smart provides services to local students who are seeking secondary and higher education studies in the UK, Australia, Canada, and New Zealand. Its offerings principally include overseas studies consultancy services for students in Hong Kong, though it also provides value-added services such as tutoring and visa consultation services.
Rise Smart Group Holdings was founded in 2006 and booked $3 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol RSHL. American Trust Investment Services and Prime Number Capital are the joint bookrunners on the deal.
