Hong Kong construction company Grandeur Engineering Limited (GDEL.US) IPO priced at $4-5 per share, aiming to raise $17 million.

Hong Kong-based construction company Global Development Engineering (GDEL) submitted an IPO application to the U.S. Securities and Exchange Commission (SEC) on Tuesday, planning to issue 3.8 million shares of stock at a price range of $4 to $5 per share, raising $17 million. Based on the midpoint of the proposed price range, the company's market value will reach $90 million. Global Development Engineering provides a variety of construction services in Hong Kong, including house renovation and repairs, interior and exterior decoration, and cleaning work. The company serves numerous clients, including real estate developers, commercial property owners, hotels, hospitals, and individuals, acting as both general contractors and subcontractors. Established in 2015, Global Development Engineering had a revenue of $4 million for the 12 months ending on March 31, 2025. The company plans to list on the Nasdaq under the stock symbol "GDEL". The IPO application was secretly submitted on June 28, 2024. Cathay Securities is the exclusive underwriter for this transaction.