Hong Kong industrial equipment supplier Mengxun Machinery (PNIG.US) submits US IPO application, planning to raise $23 million.

Hong Kong-based high-precision manufacturing industrial equipment supplier, Pacific Nexus IntelliTech Group (PNIG.US), submitted its IPO filing to the U.S. Securities and Exchange Commission (SEC) last Friday, planning to raise up to $23 million through an initial public offering (IPO). The company plans to issue 5 million shares at a price of $4 to $5 per share, raising $23 million in funds. Pacific Nexus IntelliTech Group provides technology-driven manufacturing solutions to industrial clients, especially in the automotive and electronics industries. Its core business involves supplying high-precision CNC equipment from third-party manufacturers and integrating these equipment into clients' production lines. In addition to equipment trading, the company also offers services such as system design, software integration, and manufacturing execution system deployment to support more automated and efficient production processes. Established in 2015, the company achieved revenues of $16 million in the 12 months ending on August 31, 2025. The company plans to list on the NASDAQ stock exchange under the ticker symbol PNIG. Guotai Securities serves as the exclusive bookrunner for this offering.