RSS Park Ha Biological Technology Prices IPO Of 1.20 Mln Shares At $4.00/shr

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 RSS Park Ha Biological Technology Prices IPO Of 1.20 Mln Shares At $4.00/shr

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Park Ha Biological Technology Co., Ltd., specializing in private skincare labels, direct product sales, and franchise promotions, has set the price for its initial public offering (IPO). The company is offering 1.20 million ordinary shares at a price of $4.00 each.

These ordinary shares have received approval for listing on the Nasdaq Capital Market and are anticipated to begin trading under the ticker symbol "PHH" on December 27, 2024.

The company aims to raise gross proceeds totaling $4.8 million from this offering, prior to the deduction of underwriting discounts and other associated expenses. Furthermore, the company has provided underwriters with a 45-day option to acquire an additional 180,000 ordinary shares at the offering price, minus underwriting discounts. The closing of the offering is expected around December 30, 2024.

The proceeds from this offering will be strategically allocated. These funds will be used to increase the scale of its directly-owned stores in the PRC, acquire existing product patents for the development of proprietary offerings, and secure ingredient suppliers to lower production costs in the long run.

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