Junee, which provides interior design and fit-out services in Hong Kong, announced terms for its IPO on Thursday. The company also added Pacific Century Securities as an underwriter.
The Hong Kong-based company plans to raise $25 million by offering 5 million shares (29% secondary) at a price range of $4 to $6. At the midpoint of the proposed range, Junee would command a market cap of $71 million.
Through its subsidiary, OPS HK, the company provides interior design, fit-out, and maintenance services to both residential and commercial clients in Hong Kong. The company's design work is performed by in-house designers while the fit-out work and maintenance services are presently outsourced to subcontractors who are managed and supervised by OPS HK. For the six months ended December 31, 2021, OPS HK had 27 customers across commercial and retail, residential, and office properties.
Junee was founded in 1998 and booked $10 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol JUNE. Univest Securities and Pacific Century Securities are the joint bookrunners on the deal.
