Uptrend Holdings, a subcontractor in Hong Kong, filed on Tuesday with the SEC to raise up to $7 million in an initial public offering.
The company plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Uptrend Holdings would command a market value of $68 million.
Through its operating subsidiary, Uptrend provides subcontractor services in the Hong Kong construction industry. The company offers two major construction solutions, civil engineering works and soil and rock transportation services.
The Hong Kong-based company was founded in 2015 and booked $8 million in revenue for the 12 months ended September 30, 2024. It plans to list on the Nasdaq under the symbol UPX. Uptrend Holdings filed confidentially on January 10, 2025. Cathay Securities is the sole bookrunner on the deal.
