Hong Kong mobile app developer EvoNexus (EVON.US) has further increased its IPO size, with the number of shares issued raised by 67% to raise $25 million.

Hong Kong social entertainment app developer EvoNexus Group raised the proposed fundraising scale for its upcoming IPO on Thursday. The company currently plans to issue 6.3 million shares at a price of $4 per share, aiming to raise $25 million. Previously, the company's prospectus had proposed issuing 3.8 million shares at the same price (increased from 2 million shares in the initial filing in September last year). With the adjusted issuance scale, EvoNexus Group's fundraising amount will be 67% higher than previously expected, and its market value upon listing will reach $165 million (6% higher than the original terms). EvoNexus develops and operates a series of mobile applications featuring social and entertainment functions, including LivChat, BunchatLite, PeachU, Meeya, MeetClub, BakBak, UpChat, Timo, and RealCall. Established in 2019, EvoNexus Group generated $15 million in revenue in the 12 months ending on February 28, 2026. The company plans to list on the Nasdaq under the ticker symbol EVON. Kingswood Capital Markets is serving as the exclusive book-running manager for this transaction.