Hong Kong IT service company BoxOne Store (BAO.US) withdraws its 7 million US dollars US stock IPO application.

Hong Kong-based software development service provider BAO Holding (BAO.US) withdrew its initial public offering plan last week. The company had submitted a US IPO application in August last year, planning to issue 1.5 million shares at a price of $4 to $5 per share, raising $7 million. Its latest prospectus was updated earlier in December last year. BAO Holding is an IT solutions provider that focuses on providing customized software development and technical solutions for customers using analysis and programming technologies. The company offers automation or semi-automation solutions by deploying and integrating sensors, controllers, and other hardware devices such as smart displays, information kiosks, lockers, and vending machines. Founded in 2018, this Hong Kong-based company had revenue of $4 million in the 12 months ending on March 31, 2025. It had originally planned to list on the Nasdaq Stock Exchange under the ticker symbol "BAO". The Pacific Century Securities and Revere Securities were previously designated as joint bookrunners for this offering.