Hong Kong-based furniture maker Decca Investment Ltd (DCCA) has filed for a proposed $33M US initial public offering.
Decca said in a filing that it was considering offering 6M shares priced between $4 and $7, which would raise around $33M if priced at the midpoint at $5.50 per share.
The company intends to list its shares on Nasdaq under the symbol DCCA. Univest is serving as lead bookrunner.
Decca is incorporated in the British Virgin Islands and conducts its operations through subsidiaries in Hong Kong and China. The company manufactures and sells wooden furniture for hotels, office buildings, residential buildings and the retail market, along with architectural fixtures and fittings such as doors, moldings, cabinets and wall paneling.
The company distributes its products in Asia, the US and Europe. For the year ended March 31, 2022, it reported a net income of $3M on revenue of $96M.
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Image and article originally from seekingalpha.com. Read the original article here.