Hong Kong IT Services Firm BAO Holding (BAO.US) Withdraws $7 Million U.S. IPO Application

Stock News

Jan 05

Hong Kong-based software development services provider BAO Holding (BAO.US) withdrew its initial public offering plan last week. The company had filed for a U.S. IPO in August last year, intending to issue 1.5 million shares at a price range of $4 to $5 per share to raise $7 million. Its latest prospectus was updated earlier in December last year.

BAO Holding is an IT solutions provider, focusing on utilizing analytics and programming technologies to offer customized software development and technical solutions for its clients. The company delivers automated or semi-automated solutions through the deployment and integration of sensors, controllers, and other hardware devices such as smart displays, kiosks, lockers, and vending machines.

Established in 2018 and headquartered in Hong Kong, the company reported revenue of $4 million for the 12-month period ended March 31, 2025. It had originally planned to list on the Nasdaq exchange under the ticker symbol "BAO". Pacific Century Securities and Revere Securities were previously designated as joint book-running managers for the offering.

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