Hong Kong boutique investment firm Sibo Holding refiles for a $15 million US IPO
IPO Overview
Sibo Holding, a boutique investment bank and financial services provider in Hong Kong, filed on Wednesday with the SEC to raise up to $15 million in an initial public offering.
The company initially filed its F-1 in August 2025 and set preliminary terms later that month. Sibo withdrew its original F-1 earlier today.
Sibo now plans to raise $15 million by offering 15.8 million shares at a proposed price of $4. At the proposed deal size, the company would command a market cap of $63 million.
Operating through subsidiary StormHarbour HK, the company notes that it has raised more than $900 million for clients with various transaction types, including loans and equity sales, over the past three years. StormHarbour HK derives income primarily through service-based fees and commissions, including those received as an introducing broker. StormHarbour HK divides its business into two segments, Capital Markets, which focuses on private equity, private debt fundraising, and financial advisory services, and Asset Management, where its services include fund management, investment solutions, wealth management, and private bank account advisory.
The Hong Kong-based company was founded in 2009 and booked $5 million in revenue for the 12 months ended June 30, 2025. It plans to list on the Nasdaq under the symbol SIBO. Sibo Holding filed confidentially on March 25, 2025. R.F. Lafferty & Co. is the sole bookrunner on the deal.
About the Company
Sibo is an exempted company with limited liability incorporated under the laws of the Cayman Islands on December 11, 2018. As a holding company with no material operations of its own, Sibo conducts its operations solely conducted by its subsidiary, StormHarbour HK, a limited liability corporation incorporated in Hong Kong SAR and licensed by the Securities and Futures Commission of Hong Kong, or the HKSFC （SFC CE No. AUK151）。 Sibo indirectly owns 100% equity interests in StormHarbour HK through Buckwheat Investments, a business company incorporated in British Virgin Islands. StormHarbour HK, established in 2009, is a financial advisory firm with a rich history and evolving structure. Since March 2010, StormHarbour HK has been licensed by the HKSFC for Type 1 （Dealing in Securities）， Type 4 （Advising on Securities）， and Type 6 （Advising on Corporate Finance） regulated activities. Additionally, since June 2016, StormHarbour HK has been licensed by the HKSFC for Type 9 （Asset Management） regulated activities. The core business of StormHarbour HK is rooted in Capital Markets services, with future expansion roadmap into Asset Management services. StormHarbour HK’s geographical focus encompasses key markets in the Asia Pacific region, including Mainland China, Hong Kong, South Korea, Oceania, and Southeast Asia.