Hong Kong student dormitory supplier Lifehouse applies for US IPO, aiming to raise $29 million.

Hong Kong student dormitory accommodation supplier Student Living EduVation Limited (Student Living EduVation) submitted documents to the U.S. Securities and Exchange Commission on Tuesday, planning to raise up to $29 million in funds through an initial public offering. The company operates student accommodations and property management services under the "Stuyou" brand, while also providing education consultant referral services. It manages five dormitory locations in Hong Kong, with a total area of over 26,500 square feet, serving approximately 400 individual clients annually, 95% of whom are from mainland China. All facilities of the company maintain a 100% occupancy rate, located near major universities, providing a total of 143 rooms (mostly single rooms) with an average lease term of one year for customers. This Hong Kong-based company was established in 2016, with revenue of $2 million for the 12 months ending March 31, 2025. The company plans to list on the NASDAQ but has not yet chosen a stock code (temporary code: SLED.RC). D. Boral Capital is the sole bookrunner for this transaction. The company has not disclosed pricing terms yet.