GreenVector Holdings, a Hong Kong developer of recycled construction materials, raised the proposed deal size for its upcoming IPO on Friday.
The Hong Kong, China-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 2 million shares at the same range. At the midpoint of the revised deal size, GreenVector Holdings will raise 88% more in proceeds than previously anticipated.
GreenVector Holdings operates as a key manufacturer of sustainable construction solutions in Hong Kong, focusing on eco-friendly products like Eco-Glass Blocks and Air Pollutant Removal Paving Blocks made from recycled materials. Through its operating subsidiary, it serves over 50 corporate clients, primarily major construction firms in Hong Kong, with distribution historically facilitated by affiliate TioStone Environmental Limited. The company maintains a localized supply chain with partnerships for recycled material sourcing and conducts ongoing research to develop new low-carbon materials.
GreenVector Holdings was founded in 2005 and plans to list on either the NYSE American or the Nasdaq under the symbol GRVT. Revere Securities is the sole bookrunner on the deal.
