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HONG KONG - Pitanium Limited, a Hong Kong-based retailer specializing in beauty and personal care products, has set its initial public offering (IPO) price at $4.00 per Class A ordinary share. The company expects to begin trading on the Nasdaq Capital Market today under the ticker symbol "PTNM." According to InvestingPro data, the company enters the market with impressive gross profit margins of nearly 80% and generated revenue of $9.64 million in the last twelve months.
The IPO comprises 1,750,000 Class A ordinary shares, with an additional 45-day option for the underwriter, Cathay Securities, Inc., to purchase up to 262,500 more shares at the same price, less underwriting commissions. The offering is anticipated to close on June 2, 2025, subject to customary closing conditions.
Pitanium intends to use the proceeds from the offering to enhance customer experience through a new mobile application, develop a home treatment product line, expand its product portfolio, improve marketing strategies, and for working capital and other corporate purposes. The company’s expansion plans come on the heels of solid performance, with InvestingPro analysis showing nearly 10% revenue growth in the past year and positive EBITDA of $1.7 million. For deeper insights into Pitanium’s valuation metrics and growth potential, discover 7 additional exclusive ProTips on InvestingPro.
The shares have been approved for listing on the Nasdaq Capital Market, marking a significant milestone for the company, which operates both online and through six retail stores in prime shopping locations in Hong Kong. The company’s in-house product development team works with original equipment manufacturing (OEM) and original design manufacturing (ODM) suppliers to stay at the forefront of market trends. The company maintains a healthy current ratio of 1.16, indicating solid short-term financial stability.
Legal counsel for the offering included Loeb Smith Attorneys, Loeb & Loeb LLP, TC & CO., and Tian Yuan Law Firm representing Pitanium in various jurisdictions, with VCL Law LLP serving as U.S. securities counsel for the underwriter.
The offering was made pursuant to Pitanium’s Registration Statement on Form F-1, declared effective by the U.S. Securities and Exchange Commission (SEC) on May 29, 2025. Interested parties can obtain copies of the prospectus from Cathay Securities, Inc.
This news is based on a press release statement and contains forward-looking statements subject to risks and uncertainties, including market conditions and the completion of the IPO. Investors are cautioned not to place undue reliance on these forward-looking statements, which are not guarantees of future performance.
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