Garden Stage, a Hong Kong-based provider of underwriting and brokerage services, filed on Friday with the SEC to raise up to $15 million in an initial public offering.
The company plans to raise $15 million by offering 3.8 million shares (40% secondary) at $4. At the proposed price, Garden Stage would command a market value of $60 million.
Garden Stage is a financial services firm engaged in the provision of placing and underwriting services, securities dealing and brokerage services, and asset management services in Hong Kong. The company operates through subsidiaries I Win Securities and I Win Asset Management.
Garden Stage was founded in 2016 and booked $3 million in revenue for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol WIN. The company filed confidentially on December 13, 2022. Revere Securities is the sole bookrunner on the deal.
