BAO Holding, a Hong Kong-based provider of software development services, filed on Wednesday 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, BAO Holding would command a market cap of $80 million.
BAO Holding is an IT solutions provider specializing in leveraging analytics and programming to deliver customized software development and technology solutions. The company offers deployment and integration of sensors, controls, and other hardware, such as smart displays, kiosks, lockers, and vending machines, to deliver autonomous or semi-autonomous solutions.
The Hong Kong-based company was founded in 2018 and plans to list on the Nasdaq under the symbol BAO. Pacific Century Securities is the sole bookrunner on the deal.
