Hitek Global, which provides IT consulting and solutions services in China, filed an amendment on Tuesday with the SEC, updating the description of its share capital ahead of an initial public offering that could raise up to $9 million.
The Xiamen, China-based company plans to raise $9 million by offering 1.8 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Hitek Global would command a market value of $64 million.
The company originally filed for an IPO in November 2018 but had previously been marketed on a best efforts basis, which made it ineligible for Renaissance Capital tracking.
Hitek Global was founded in 1996 and booked $6 million in revenue for the 12 months ended June 30, 2019. It plans to list on the Nasdaq under the symbol HKIT. Newbridge Securities and WestPark Capital are the joint bookrunners on the deal.
