Park Ha Biological Technology, which sells skin care and cosmetics products in China, filed with the SEC on Monday to raise up to $7 million in an initial public offering.
The Wuxi, China-based company plans to raise $7 million through an offering of 1.2 million shares at a price range of $5 to $7. At the midpoint of the proposed price range, Park Ha Biological Technology's market value would be $157 million.
Operating through a combination of company-owned stores and a growing network of franchisees across China, Park Ha's product line ranges from basic physical skin protection, exfoliation and skin film repair to surface microbial balance and anti-ageing. It includes around 200 items across 18 series focused on solutions for problem skin.
The company was founded in 2016 and posted revenue of $2 million for the 12 months ending April 30, 2024. The company plans to list on the Nasdaq under the symbol PHH. Parkha Biological Technology filed privately on December 29, 2023. Dawson James and E.F. Hatton are acting as joint bookrunners.
