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Chinese business consultancy Top Kingwin (TCJH) has applied to raise around $14 million from a US initial public offering.
Top Kingwin said in a presentation that it plans to offer 3M common shares at a price between $4 and $5, which would increase almost $14 million if the price is in the middle ground. Underwriters would be granted a 45-day option to purchase up to an additional 450,000 shares.
Incorporated in the Cayman Islands, Top Kingwin operates through subsidiaries in China and the British Virgin Islands. The company provides corporate training and consulting services for small and medium-sized enterprises in China.
The company has been operating at a loss. For the nine-month period ended September 30, Top Kingwin reported a net loss of $108,000 and a comprehensive loss of $414,000 on revenues of $3 million.
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