Pitanium, which sells branded beauty and consumer products in Hong Kong, filed on Friday with the SEC to raise up to $8 million in an initial public offering.
The Hong Kong-based company plans to raise $8 million by offering 1.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Pitanium would command a market value of $102 million.
Through its operating subsidiary, the company sells proprietary skincare, personal care, and haircare products under the brands PITANIUM and BIG PI. It sells products through a network of six retail stores in Hong Kong, as well as online.
Pitanium was founded in 2013 and booked $10 million in sales for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol PTNM. The company filed confidentially on December 16, 2024. Cathay Securities is the sole bookrunner on the deal.
