ChainOn Group, a Hong-Kong based provider of Web3, cloud, and software development services, filed on Thursday with the SEC to raise up to $31 million in an initial public offering.
The company plans to raise $31 million by offering 6.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, ChainOn Group would command a market cap of $181 million.
ChainOn Group is a Hong Kong-based technology services company that provides custom software development and technology solutions to enterprise clients, with a focus on blockchain and Web3 applications. The company operates through two service lines: project development services, which encompasses the design and implementation of customized software projects, and advisory and support services, which includes ongoing project maintenance and hardware maintenance provided on a monthly subscription basis. Founded in 2017 as a hardware reseller under the name Success Illusion Limited, the company pivoted away from enterprise server sales toward integrated technology services following a rebranding in 2019.
The Hong Kong-based company was founded in 2017 and booked $4 million in revenue for the 12 months ended October 31, 2025. It plans to list on the Nasdaq under the symbol CHON. ChainOn Group filed confidentially on November 25, 2025. Univest Securities is the sole bookrunner on the deal.
