Zhitong Financial APP learned that Hong Kong-based printing service provider Xinghui New Development Holdings Co., Ltd.(hereinafter referred to as "Xinghui Printing") lowered its price on Fridayasiangames2000Considering the proposed transaction size of the upcoming U.S. initial public offering (IPO), it is currently planned to issue 2 million shares at a price of US$4 to US$5 to raise US$9 million. The company had previously applied to issue 2.5 million shares at the same price, and based on the median price, the funds raised would be 20% less than previously expected.
Xinghui Printing provides a variety of printing products through its operating subsidiaries and has rich experience in customized and personalized book printing. The company has a wide range of businesses, including book products such as educational books and notebooks, as well as creative products such as handicraft products and pop-up books. and packaging products. The company's customers are mainly Hong Kong book traders, with trader customers all over the world, mainly in the United States and Europe.
Xinghui Printing was established in 1993 and achieved revenue of US$15 million in the 12 months ended December 31, 2023. The company plans to list on Nasdaq under the ticker symbol SFHG. Revere Securities was the sole bookkeeper for the transaction.