Primagrove, a Hong Kong-based provider of custom software development and smart office solutions, filed on Wednesday 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, Primagrove would command a market value of $131 million.
Primagrove is a Hong Kong-based provider of custom software development and smart office solutions, operating through its subsidiary Oceanic Bounty. The company has three project-based service lines: system development and maintenance, building customized enterprise systems for workflow automation, data management, reporting and communication, typically followed by an 18-month maintenance contract; website design and development, covering customized websites and web-based applications; and workspace solutions with embedded software, bundling smart lockers, smart letter boxes and silent booths with installation. Its clients include small and medium-sized enterprises and larger organizations in consulting, real estate, logistics, retail and financial services, and it plans to explore expansion into Southeast Asia and the broader Asia-Pacific region.
The company was founded in 2023 and booked $2 million in revenue for the 12 months ended December 31, 2025. It plans to list on the Nasdaq under the symbol YHTE. Eddid Securities is the sole bookrunner on the deal.
