Billion Group Holdings, a Hong Kong-based distributor of high-end food products, filed on Friday 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, Billion Group Holdings would command a market value of $100 million.
The company supplies premium and scarce high-end food products to businesses in Hong Kong. Products include frozen food (60% of FY24 revenue), fine wine and spirits (24%), luxury seafood (15%), and other foods (1%). The company primarily serves catering-related distributors and luxury retail channels.
The Hong Kong-based company was founded in 2015 and booked $7 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol BGHL. American Trust Investment Services is the sole bookrunner on the deal.
