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Hong Kong-based Neo-Concept International prices US IPO at $4, the low end of the range

April 23, 2024

Neo-Concept International Group Holdings, a Hong Kong-based apparel retailer and supply chain services provider, raised $9 million by offering 2.3 million shares at $4, the low end of the range of $4 to $5.

Neo-Concept International offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management, serving customers located in Europe and North America. The company primarily generates revenue through the sale of private-label apparel products. It also generates revenue from retail sales of its own branded knitwear and other apparel products. Its products are sold under the licensed brand "les 100 ciels" through three physical retail locations in the UK, its website, and third party online platforms.

Neo-Concept International Group Holdings plans to list on the Nasdaq under the symbol NCI. Revere Securities and R.F. Lafferty & Co. acted as joint bookrunners on the deal.