Hong Kong IT service provider Box Shop (BAO.US) reapplies for US stock market listing, IPO pricing at $4-5 per share.

Hong Kong-based software development service provider BAO Holding filed a prospectus with the U.S. Securities and Exchange Commission (SEC) last Friday, planning to raise up to $17 million through an initial public offering (IPO). The company initially submitted an F-1 filing in August 2025 and set the terms for the offering, but later withdrew the F-1 application in December 2025. According to the latest filing, BAO Holding plans to issue 3.8 million shares at a price of $4 to $5 per share, raising approximately $17 million. Based on the proposed offering size, the company's market value after listing will be approximately $91 million, 12.5% higher than the previous terms. The company plans to list on the Nasdaq under the ticker symbol "BAO". Founded in 2018, BAO Holding is an IT solutions provider specializing in custom software development and technology solutions utilizing data analysis and programming capabilities. The company also provides deployment and integration services for sensors, control systems, and other hardware, such as smart displays, self-service terminals, intelligent lockers, and vending machines, to achieve automation or semi-automation solutions.