Hong Kong luxury watch wholesaler Top Win (TOPW.US) applies for US listing to raise US$13 million

Zhitongcaijing · 11/26 07:09

The Zhitong Finance App learned that Hong Kong's luxury watch wholesaler Top Win International submitted an IPO application to the US Securities and Exchange Commission (SEC) on Monday and plans to raise up to 13 million US dollars.

The company plans to raise $13 million by issuing 2.7 million shares at a price of $4 to $6 per share. Based on the midpoint of the proposed price range, Top Win International's market capitalization will reach US$124 million.

Through its subsidiary, Top Win is a wholesaler engaged in the trade, distribution and retail of luxury watches of international brands. The company directly or indirectly sources luxury goods from authorized dealers, distributors and brand owners in Europe, Japan, Singapore and elsewhere and sells them to customers, including independent watch dealers, watch distributors, and retail buyers within the watch industry. Top Win currently offers more than 30 internationally renowned watch brands, and its target customers are middle- and high-income groups.

Top Win International was founded in 2001 with 12-month sales up to June 30, 2024 of US$15 million. The company plans to list on NASDAQ under the stock symbol TOPW. The company secretly submitted the application on August 16, 2024. Revere Securities was the sole bookkeeper for this transaction.