Hong Kong civil engineering subcontractor Uptrend Holdings (UPX.US) has seen a 150% increase in the amount of its IPO issuance in the US stock market, with plans to raise $17 million.

Hong Kong subcontracting company Uptrend Holdings (UPX.US) has increased the proposed size of its upcoming initial public offering (IPO) on Tuesday. The company, based in Hong Kong, currently plans to issue 3.8 million shares at a price of $4 to $5 per share, raising $17 million. Previously, the company had filed to issue 1.5 million shares at the same price range. Based on the midpoint of the revised transaction size, Uptrend Holdings' fundraising amount will increase by 150% from previous expectations. Uptrend Holdings provides subcontractor services in the construction industry in Hong Kong through its operating subsidiaries. The company offers two main construction solutions: civil engineering and earthwork Carriage Services Inc. Established in 2015, Uptrend Holdings plans to list on the Nasdaq under the stock symbol UPX. Guotai Junan Securities is the exclusive bookrunner for this transaction.