Charming Medical, which operates four wellness centers in Hong Kong focused on traditional Chinese medicine, filed on Wednesday with the SEC to raise up to $8 million in an initial public offering.
The company plans to raise $8 million by offering 1.6 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Charming Medical would command a market value of $85 million.
Operating under the Beauty Lab brand, the company provides Traditional Chinese Medicine (TCM)-inspired therapies and products, offering a wide range of beauty, wellness, and postpartum services and products through its four wellness centers in Hong Kong. The company also offers TCM-inspired therapies tailored to men.
The Hong Kong-based company was founded in 2016 and booked $6 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol MCTA. Charming Medical filed confidentially on November 21, 2024. Cathay Securities is the sole bookrunner on the deal.
