Uptrend Holdings, a subcontractor in Hong Kong, raised the proposed deal size for its upcoming IPO on Tuesday.
The Hong Kong, China-based company now plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. The company had previously filed to offer 1.5 million shares at the same range. At the midpoint of the revised deal size, Uptrend Holdings will raise 150% more in proceeds than previously anticipated.
Through its operating subsidiary, Uptrend provides subcontractor services in the Hong Kong construction industry. The company offers two major construction solutions, civil engineering works and soil and rock transportation services.
Uptrend Holdings was founded in 2015 and plans to list on the Nasdaq under the symbol UPX. Cathay Securities is the sole bookrunner on the deal.
