Hong Kong–based human resources services firm CALM Chain International files for an $18 million US IPO
IPO Overview
CALM Chain International, a Hong Kong-based human resources services provider, filed on Tuesday with the SEC to raise up to $18 million in an initial public offering.
The Hong Kong-based company plans to raise $18 million by offering 3 million shares （33% secondary） at a price range of $5 to $7. At the midpoint of the proposed range, CALM Chain International would command a market cap of $120 million.
CALM Chain International operates through its subsidiary, TalentQuest, a human resources services firm providing Employer of Record （EoR） and HR outsourcing, executive search, and HR research services. TalentQuest acts as the employer of record for client workforces, conducts contingency-based executive searches, and delivers workforce and regulatory research for clients expanding into new jurisdictions, including employment laws, compensation requirements, visas, and related considerations.
The Hong Kong, China-based company was founded in 2012 and plans to list on the Nasdaq under the symbol CCIL. CALM Chain International filed confidentially on September 9, 2025. Pacific Century Securities is the sole bookrunner on the deal.
About the Company
Headquartered in Hong Kong, we are a holding company incorporated in the British Virgin Islands, and all of our business are carried out by our wholly-owned Operating Subsidiary in Hong Kong, TalentQuest. TalentQuest is a human resources service which provides: （a） Employer of Record （“EoR”） and human resources outsourcing services; （b） executive search services; and （c） human resources research services. TalentQuest serves （a） multinational companies and governmental organizations that outsource their human resources functions; （b） multinational companies, financial institutions, construction companies, fintech companies and other SMEs that engage our Operating Subsidiary searching for suitable and qualified executives or staff placements; and （c） companies that consult us in human resources perspective for their future expansion regionally and worldwide. For our EoR and human resources outsourcing services, our Operating Subsidiary formally acts as the employer of record of a workforce on behalf of our client. For our executive search service, our Operating Subsidiary only provides searches services on contingency search basis. /For human resources research service, the Operating Subsidiary conducts research for clients who mostly would like to expand into other jurisdictions and provide advice on the workforce environment, including the employment distribution and foreign workforce, the statutory requirements on wage, benefits and insurance, employment visa application and procedures and any other items as requested by our clients.