Hong Kong subcontractor Yi Feng Holdings files and sets terms for a $19 million US IPO
IPO Overview
Yi Feng Holdings, a Hong Kong-based construction subcontractor, filed on Friday with the SEC to raise up to $19 million in an initial public offering.
The Hong Kong, China-based company plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Yi Feng Holdings would command a market cap of $88 million.
Yi Feng Holdings is a subcontractor in the Hong Kong construction industry specializing in providing civil engineering work services and steel cutting services for the removal of temporary steel structures at construction sites. The company also generates revenue from the sales of recyclable steel collected from its steel cutting projects. Its project portfolio consists of both private and public sectors projects in Hong Kong, including residential buildings, commercial developments, public housing and government buildings, and schools, hospitals, and transport infrastructure
The Hong Kong, China-based company was founded in 2022 and plans to list on the NYSE American under the symbol YIFE. Yi Feng Holdings filed confidentially on August 29, 2025. Cathay Securities is the sole bookrunner on the deal.
About the Company
We are a subcontractor in the Hong Kong construction industry specializing in providing （i） civil engineering work services, including permanent electrical engineering works, temporary electrical and plumbing systems, and vertical material handling services, and （ii） steel cutting services for the removal of temporary steel structures at construction sites. We also generate revenue from the sales of recyclable steel collected from our steel cutting projects. Our project portfolio consists of both private and public sectors projects in Hong Kong, which include: （i） residential buildings; （ii） commercial developments; （iii） public housing and government buildings; and （iv） schools, hospitals, and transport infrastructure. Our direct customers are generally main contractors and subcontractors of various building and infrastructure construction projects in Hong Kong and the ultimate owners of the projects undertaken by us mainly include property developers in Hong Kong as well as the Hong Kong government.