Hong Kong metaverse firm Dbim Holdings nearly doubles shares offered ahead of $17 million US IPO
IPO Overview
Dbim Holdings, which provides metaverse marketplace services focused on trading virtual goods, raised the proposed deal size for its upcoming IPO on Tuesday.
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. At the midpoint of the revised deal size, Dbim Holdings will raise 88% more in proceeds than previously anticipated and command a market cap of $129 million.
Dbim is a comprehensive metaverse marketplace service provider in Asia. The company operates through two segments: virtual goods services, through its virtual goods trading platform, and metaverse scenario building services, which it states leverages VR, AR, 3D modelling, and AI technologies.
Dbim Holdings was founded in 2017 and plans to list on the Nasdaq under the symbol DBIM. American Trust Investment Services is the sole bookrunner on the deal.
About the Company
Featuring our AI-enabled metaverse marketplace service capabilities, strong resource base and global business outreach, we are a leading comprehensive metaverse marketplace service provider in Asia which leverages AI to empower enterprises and individuals to enhance commercial efficiency. Our business footprint spans two key segments of the metaverse marketplace service industry, namely （i） virtual goods services, and （ii） metaverse scenario building services. According to iResearch, we were the largest service provider in Asia for trading China’s virtual goods with overseas consumers in terms of revenue in 2023. We generate our revenues primarily from provision of virtual goods services through our platform, and are actively developing metaverse scenario building services to enrich our service offerings and empower our customers to do business in metaverse. We provide virtual goods services through our virtual goods trading platform, which primarily consists of our to-consumer websites such as kavip.com. Our virtual goods trading platform is designed to serve customers from different geographical regions. Relying on our AI-enabled virtual goods trading, we source virtual goods from industry-leading third-party virtual good operators around the world, and facilitate global consumers to transcend geographical boundaries and access virtual goods across various industry verticals such as live streaming, social networking, online entertainment, literature, and gaming.