By Ben Glickman
Neo-Concept International Group Holdings on Wednesday filed for an initial public offering with the Securities and Exchange Commission.
The Hong Kong-based company provides a suite of services across the apparel supply chain, from market analysis and design to raw material sourcing. The company said it has a special focus on sustainable solutions.
NCI plans to sell 2 million shares for between $4 and $5 a share. At the midpoint of the expected price range, the company would have gross proceeds of $9 million.
The company plans to use proceeds for developing new products, expanding its customer base, potentially acquiring other new companies or beginning joint ventures and for working capital.
The company has applied to list its shares on the Nasdaq Capital Market under the ticker NCI.
In 2022, NCI posted revenue of $44.5 million and a profit of $1.59 million. The majority of that revenue came from selling private-label apparel products.
Chief Executive Eva Yuk Yin Siu is listed as owning a majority of the shares of the company, with director Man Chi Wait also owning an under 5% stake.
Revere Securities is listed as the underwriter of the offering.
Write to Ben Glickman at [email protected]
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