Global Development Engineering, a Hong Kong-based construction service provider and contractor, filed on Tuesday with the SEC to raise up to $17 million in an initial public offering.
The Hong Kong-based company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Global Development Engineering would command a market cap of $90 million.
Global Development Engineering provides construction services in Hong Kong, including renovation and repairing, interior and exterior finishing, and cleaning work. The company serves a range of clients such as property developers, commercial property owners, hotels, hospitals, and individuals, and undertakes both main contractor and subcontractor roles.
The Hong Kong-based company was founded in 2015 and booked $4 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol GDEL. Global Development Engineering filed confidentially on June 28, 2024. Cathay Securities is the sole bookrunner on the deal.
