(17:34 GMT) *Smart Pointer Group Holdings Files for 5M Share IPO (17:34 GMT) *Smart Pointer Group Holdings Expects IPO to Price Between $5 and $6 per Share (17:34 GMT) *Smart Pointer Group Holdings: Will Apply to List on Nasdaq Capital Market Under the Symbol SPGH (18:38 GMT) Smart Pointer Group Holdings Files for Initial Public Offering
By Doc Louallen
Smart Pointer Group Holdings Limited has filed for an initial public offering.
The Hong Kong-based company will offer 5 million Class A ordinary shares at an estimated price of $5 to $6 each.
The company expects proceeds of about $21.6 million, or up to $25 million if underwriters exercise their option to purchase additional shares, based on an assumed price of $5 per share, after deductions.
Smart Pointer said it plans to use the proceeds in four areas. About 40% will go to potential investments and acquisitions of logistics and warehousing service providers. About 30% will be used to expand handling capacity. About 20% will be invested in warehousing technologies. The remainder will be used for working capital and general administration.
Smart Pointer said it will be a controlled company after the offering, with Ting Fo Chan holding about 91.4% of voting power, assuming underwriters don't exercise the over-allotment option.
For the six months ended Sept. 30, 2025, the company posted a profit of about HK$3.09 million ($396,000), up from HK$1.84 million a year earlier. Revenue rose to about HK$32.4 million from HK$23.1 million.
Smart Pointer will apply to list its Class A shares on the Nasdaq Capital Market under ticker SPGH.
Write to Doc Louallen at [email protected]