Park Ha Biological Technology Co., Ltd. announced on December 30, 2024, the successful closing of its initial public offering. The company issued 1,200,000 ordinary shares at a public offering price of $4.00 per share, resulting in aggregate gross proceeds of $4.8 million.
The ordinary shares of Park Ha Biological Technology commenced trading on the Nasdaq Capital Market on December 27, 2024, under the ticker symbol 'PHH'. This marks a significant milestone for the Chinese skincare company, establishing its presence in the U.S. public market.
The net proceeds from this offering are allocated towards strategic investments, including the expansion of directly-owned stores in the PRC, the acquisition of existing product patents for proprietary product development, and the procurement of ingredient suppliers to achieve long-term production cost reductions.
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