Samfine Creation Holdings Group Ltd. (SFHG), a printing services company based in Hong Kong, priced its small-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 price range – and sold 2.0 million shares – the number in the prospectus – to raise $8.0 million on Monday, Oct. 14, 2024. Samfine Creation’s stock opened at $4.99 – up 99 cents or almost 25 percent from its IPO price of $4.00 – at 12:25 p.m. EDT today – Tuesday, Oct. 15, 2024 – on the NASDAQ. Volume on that opening trade was 179,413 shares, according to NASDAQ. By 2:54 p.m. EDT, Samfine Creation’s stock was trading at $6.16 – up $2.16 for a gain of 54 percent from its IPO price – on the NASDAQ on volume of about 1.07 million shares.
Samfine Creation’s stock closed its first day of trading at $5.30 – up $1.30 for a 32.5 percent gain from its $4.00 IPO price – on NASDAQ on Tuesday, Oct. 15, 2024. Volume for the day was 1,522,553 shares.
Cathay Securities served as the lead book-runner. Dominari Securities acted as a book-runner. Revere Securities was the co-manager.
Samfine Creation, founded in 1993, said its operating subsidiaries sell children’s books and educational books, art books, notebooks, diaries and journals, in addition to providing printing services. The company’s novelty and packaging products business includes handcrafted products, book sets, pop-up books, stationery, shopping bags and package boxes.
Its operating subsidiaries’ customers are mostly book traders in Hong Kong whose clients are located around the world, mainly in the U.S. and Europe.
Samfine Creation is not profitable. For the year that ended Dec. 31, 2023, the company reported a net loss of $0.43 million (a net loss of $430,000) on revenue of $15.01 million, according to financial statements in the prospectus.
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