Chinese skincare company Puhe Biotechnology (PHH.US) plans to price its IPO at $5-7 per share, with the aim of raising $7 million.

Chinese skincare and cosmetics company Park Ha Biological Technology (PHH.US) submitted its initial public offering (IPO) application to the US Securities and Exchange Commission on Monday, planning to raise up to $7 million in funding. The company, based in Wuxi, Jiangsu Province, China, plans to issue 1.2 million shares at a price of $5 to $7 per share, raising $7 million. Based on the midpoint of the proposed price range, Park Ha Biological's market value would reach $157 million. Through its direct stores in China and a growing network of franchise distributors, Park Ha Biological's product line covers basic skin physical protection, exfoliation, sebum film repair, surface micro-ecological balance, and anti-aging. This includes nearly 200 products in 18 series, focusing on solutions for problematic skin. Founded in 2016, the company had revenue of $2 million in the 12 months ending April 30, 2024. The company plans to list on the Nasdaq under the ticker symbol PHH. Park Ha Biological secretly submitted its IPO application on December 29, 2023. Dawson James and EF Hutton are the joint bookrunners for the transaction.