Worldstar Engineering Holdings, a Hong Kong-based provider of building maintenance and renovation services, filed on Tuesday with the SEC to raise up to $28 million in an initial public offering.
The company plans to raise $28 million by offering 5 million shares at a price range of $5 to $6. At the midpoint of the proposed range, Worldstar Engineering Holdings would command a market cap of $138 million.
Worldstar Engineering Holdings operates through its Hong Kong subsidiary, WEHK, which provides renovation, maintenance, alteration, and addition (RMAA) services along with painting and interior fitting-out works across Hong Kong. The company's work spans both public and private sector projects, though it has historically derived the substantial majority of its revenue from a single major customer, a registered general building contractor that frequently serves as main contractor on public and private works in Hong Kong.
The Hong Kong-based company was founded in 1999 and booked $25 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq, although it has not yet selected a symbol (RC ticker: WSTAR.RC). Stratosphere Capital is the sole bookrunner on the deal.
