Hong Kong clothing supplier 707 Cayman Holdings (MKR.US) is planning to go public in the United States, intending to raise approximately 11 million US dollars.

Hong Kong-based clothing and supply chain management solutions provider 707 Cayman Holdings submitted an application to the Securities and Exchange Commission (SEC) on Thursday, planning to raise up to $11 million in funding through an initial public offering (IPO). This Hong Kong-based company plans to raise approximately $11 million by issuing 2.5 million shares of stock at a price range of $4 to $5 per share. At the midpoint of the proposed price range, 707 Cayman Holdings' valuation will be approximately $99 million. 707 Cayman Holdings provides a range of services to numerous clothing brands, including market trend analysis, design and product development strategies, procurement, production management, quality control, and logistics, focusing on clients in Western Europe, North America, and the Middle East. The company does not produce its own branded products but chooses to collaborate with third-party manufacturers, primarily located in China and Vietnam. Founded in 2021, the company had revenue of approximately $10 million in the 12 months ending March 31, 2024. The company plans to list on the Nasdaq stock market under the symbol "MKR." Bancroft Capital is the sole bookrunner for this transaction.