BAO Holding, a Hong Kong-based provider of software development services, withdrew its plans for an initial public offering on Wednesday. It had filed in August to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. The company last updated its prospectus earlier this month.
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 booked $4 million in revenue for the 12 months ended March 31, 2025. It had planned to list on the Nasdaq under the symbol BAO. Pacific Century Securities and Revere Securities were set to be the joint bookrunners on the deal.
