Hong Kong-based human resources service provider CALM Chain International submitted an application to the U.S. Securities and Exchange Commission (SEC) on Tuesday for an initial public offering aiming to raise up to $18 million. The company plans to offer 3 million shares, with one-third being a secondary offering, at a proposed price range of $5 to $7 per share to achieve the fundraising target. Based on the midpoint of the proposed price range, CALM Chain International would command a market valuation of $120 million.

CALM Chain International operates through its subsidiary, TalentQuest, which provides Employer of Record (EoR) services, human resources outsourcing, executive search, and HR research services. TalentQuest acts as the nominal employer for client staff, conducts success-fee-based executive search operations, and offers labor and regulatory research for clients expanding into new jurisdictions. This research covers employment laws, compensation requirements, visas, and related considerations.

Founded in 2012, the company intends to list on the Nasdaq exchange under the ticker symbol CCIL. CALM Chain International had confidentially filed its draft registration statement on September 9, 2025. Pacific Century Securities is serving as the exclusive book-running manager for the offering.