Idea Tech Holding, which distributes drones and provides STEM training in Hong Kong, withdrew its plans for an initial public offering on Friday. It had originally filed in August 2025 to raise $9 million by offering 2 million shares at a price range of $4 to $5.
Primary shareholders include private investor Jie Wu, Chairman Xiaoke Luo, CEO Chun Ki Wan, COO Ho Kit Hui, and private investor Tin Chun Or.
The Hong Kong, China-based company was founded in 2018 and booked $4 million in revenue for the 12 months ended December 31, 2024. It had planned to list on the Nasdaq under the symbol IDTL. R.F. Lafferty & Co. was set to be the sole bookrunner on the deal.
