Hong Kong jeweler C&K Group increases shares offered by 88% ahead of $17 million US IPO
IPO Overview
C&K Group, a Hong Kong-based jeweler focused on pearls, raised the proposed deal size for its upcoming IPO on Friday.
The Hong Kong, China-based company now plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. The company had previously filed to offer 2 million shares at the same range, and had originally filed to offer 1.5 million shares. At the midpoint of the range, C&K Group will now raise 88% more in proceeds than previously anticipated.
With the revised offering terms, C&K Group will qualify for a US IPO under the Nasdaq’s new listing requirements, which include a minimum float of $15 million.
Through its operating subsidiary, C&K Group principally engages in the purchasing, designing, and sales of loose pearls and finished jewelry products. The company currently offers a selection of over 1,000 styles of pearls and finished jewelry products.
C&K Group was founded in 2016 and plans to list on the Nasdaq, although it has not yet selected a symbol （RC ticker: CKJ.RC）。 Blue Diamond Securities of America and Revere Securities are the joint bookrunners on the deal.
About the Company
C&K Group Limited （“C&K Group” or the “Company”）， through its operating subsidiary, C&K Jewellery Limited （“C&K Jewellery）， incorporated in Hong Kong on November 3, 2016, is principally engaged in the purchasing, designing and sales of loose pearls and finished jewelry products. We believe our strategic location in Hong Kong positions us advantageously within the global pearl trading market. Hong Kong has established itself as a leading trading and distribution center for pearls and, in 2023, was the largest importer and the sixth largest exporter of pearls globally. We currently offer a selection of over 1,000 styles of pearls and finished jewelry products. Our revenue was HKD75.5 million and HKD66.8 million （US$8.6 million） for the years ended September 30, 2023 and 2024, respectively. We recorded net income of HKD15.2 million and HKD14.0 million （US$1.8 million） for the years ended September 30, 2023 and 2024, respectively. We pride ourselves on operational excellence, which is reflected in our value-adding products and services. Our commitment to maintaining high standards of product quality has earned us a good reputation for high quality products among our customers and business partners.