Pitanium, which sells branded beauty and consumer products in Hong Kong, raised $7 million by offering 1.8 million shares at $4, the low end of the range of $4 to $5.
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 plans to list on the Nasdaq under the symbol PTNM. Cathay Securities acted as sole bookrunner on the deal.
