Zi Yun Dong Fang, a Hong Kong-based provider of cross-border investment feasibility and support services, raised the proposed deal size for its upcoming IPO on Friday.
The Hong Kong, China-based company now plans to raise $15 million by offering 3 million shares at a price range of $4 to $6. The company had previously filed to offer 1.5 million shares at the same range. At the midpoint of the revised deal size, Zi Yun Dong Fang will raise 100% more in proceeds than previously anticipated.
Through its operating subsidiary Ziyun Oriental, the company provides advisory and consulting services focused on assessing and researching the feasibility of investments in Southeast Asia, particularly Vietnam. The company aims to provide one-stop cross-border enterprise service solutions and overseas landing services for Southeast Asian enterprises.
Zi Yun Dong Fang was founded in 2021 and plans to list on the Nasdaq under the symbol YLY. Cathay Securities and Revere Securities are the joint bookrunners on the deal.
