Bend NovaTech Group, a Hong Kong-based provider of rebar prefabrication services, filed on Friday with the SEC to raise up to $6 million in an initial public offering.
The Hong Kong, China-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Bend NovaTech Group would command a market cap of $125 million.
Through its operating subsidiary, Bend NovaTech provides customized offsite cut-and-bend services for steel reinforcing bars (rebar). It operates one of the six steel reinforcing bar prefabrication yards approved by the CEDD in Hong Kong. The company's direct customers are mostly registered general building contractors, and subcontractors of various types of building and infrastructure projects in Hong Kong. Bend NovaTech provides steel reinforcing bars bending and cutting services for both public and private sector projects.
The Hong Kong, China-based company was founded in 2021 and plans to list on the Nasdaq under the symbol BENN. Revere Securities is the sole bookrunner on the deal.
