Fenbo Holdings, a Hong Kong-based manufacturer of electrical hair styling products, raised $5 million by offering 1 million shares at $5, as expected.
Through its operating subsidiaries, Fenbo makes personal care electric appliances, acting as both an original equipment manufacturer (OEM) and original design manufacturer (ODM). It primarily generates revenue from flat irons and hair straighteners and curling wands and irons. Its manufacturing subsidiary in Guangdong is capable of producing over 3 million units annually. Since 2006, the company has served as an OEM for Spectrum Brands and its sole customer, producing electrical hair styling products under the "Remington" brand, which are currently sold in Europe, the US, and Latin America.
Fenbo Holdings plans to list on the Nasdaq under the symbol FEBO. EF Hutton acted as sole bookrunner on the deal.
