Decca Investment, a Hong Kong-based maker of wooden furniture and fixtures, narrowed the price range for its upcoming IPO on Monday.
The Hong Kong-based company now plans to raise $30 million by offering 6 million shares at a price range of $4 to $6. The company had previously filed to offer the same amount of shares at a range of $4 to $7. At the midpoint of the revised range, Decca Investment will raise 9% less in proceeds than previously anticipated.
Decca Investment describes itself as a specialized architectural woodworking company which manufactures custom made wooden furniture and architectural fixtures and fittings such as paneling, floors, built-in cabinets, molding, doors and door frames. The company serves residential, office, hotel and retail markets in Asia, primarily in Hong Kong and China, as well as in the US and Europe.
Decca Investment was founded in 1973 and booked $96 million in sales for the 12 months ended March 31, 2022. It plans to list on the Nasdaq under the symbol DCCA. Univest Securities is the sole bookrunner on the deal.
