Pyrostone Holdings, which provides business advisory and valuation services in Hong Kong, filed on Thursday with the SEC to raise up to $6 million in an initial public offering.
The company plans to raise $6 million by offering 1.5 million shares at $4. At the proposed deal size, Pyrostone Holdings would command a market cap of $118 million.
Pyrostone Holdings, through its operating subsidiary Ravia Global Appraisal Advisory, provides business advisory and valuation services. Its offerings include tangible and intangible asset, real estate, business, financial instrument and long service payment valuation services, as well as ESG, internal control review, market research, and secondary review advisory services. The firm's customers include both public and private companies, and hail from a variety of industries, including finance, education, natural resources, pharmaceuticals, food and beverage, automotive, construction, and technology.
The Hong Kong-based company was founded in 2014 and booked $3 million in revenue for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol PYST. Pyrostone Holdings filed confidentially on August 20, 2025. Pacific Century Securities is the sole bookrunner on the deal.
