Vittoria, a Hong Kong-based provider of financial advisory and listing sponsorship services, announced terms for its IPO on Thursday.
The Hong Kong, China-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Vittoria would command a market value of $34 million.
Because the company is expected to have a post-IPO market cap of less than $50 million, Vittoria will be excluded from Renaissance Capital's 2023 IPO stats.
Through its wholly-owned subsidiary Red Solar, the company provides listing sponsorship and securities related services, and financial and compliance advisory services. The company states that it actively participates in Hong Kong's equity capital market, and its clients include both private and listed companies based in Hong Kong and Mainland China, as well as countries in Southeast Asia. The market caps of its listed clients range from approximately HK$100 million to over HK$20 billion (~$13 million to ~$2.6 billion).
Vittoria was founded in 2017 and booked $1 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq under the symbol VITT. Joseph Stone Capital is the sole bookrunner on the deal.
