Powell Max Limited (PMAX) Plans to Raise $8 Million in September 5th IPO

Powell Max Limited (PMAX) expects to raise $8 million in an initial public offering (IPO) on Thursday, September 5th, IPO Scoop reports. The company will issue 1,700,000 shares at a price of $4.00-$6.00 per share.

In the last 12 months, Powell Max Limited generated $6.3 million in revenue and $910,000 in net income. Powell Max Limited has a market-cap of $70.8 million.

WallachBeth Capital LLC acted as the underwriter for the IPO and Revere Securities was co-manager.

Powell Max Limited provided the following description of their company for its IPO: “Note: Powell Max is not a Chinese or a Hong Kong operating company. Powell Max is a holding company incorporated in the British Virgin Islands (BVI) with no material operations of its own. (Incorporated in the British Virgin Islands) Note: We conduct our operations in Hong Kong through JAN Financial Press Limited (“JAN Financial”), our sole operating subsidiary in Hong Kong. References to the “Company,” “we,” “us,” and “our” in the prospectus are to Powell Max, the BVI business company entity that will issue the Class A Ordinary Shares being offered. We, through our wholly owned subsidiary, JAN Financial, engage in the provision of financial communications services that support capital market compliance and transaction needs for corporate clients and their advisors in Hong Kong. Our services include corporate reporting, communications and financial printing. Our clients are domestic and international companies whose securities are listed on the Hong Kong Stock Exchange as well as companies that intend to list in Hong Kong. Note: Net profit after taxation and revenue are for the year that ended Dec. 31, 2023.  (Note: Powell Max updated its IPO documents with an F-1/A filing on June 18, 2024. Background: Powell Max filed its F-1 on May 31, 2024, and disclosed the terms for its IPO: The company is offering 1.65 million Class A ordinary shares at a price range of $4.00 to $6.00 to raise $8.25 million. The company submitted confidential IPO documents on March 19, 2024.) “.

Powell Max Limited was founded in 2019 and has 55 employees. The company is located at 22/F., Euro Trade Centre, 13-14 Connaught Road Central, Hong Kong and can be reached via phone at +852 2158 2888 or on the web at http://www.janfp.com/.