Hong Kong IPO and ESG consulting firm Starrygazey (MARH.US) plans to expand its IPO size by 67% and raise $28 million.

Hong Kong-based IPO and ESG consulting firm Starrygazey raised the planned size of its IPO on Tuesday. The company is now planning to issue 6.3 million shares at a price of $4 to $5 per share, raising $28 million. Previously, the company had filed a plan to issue 3.8 million shares at the same price range. Based on the adjusted median of the offering size, Starrygazey's capital raised will increase by 67% compared to previous expectations, and the company's market value will reach $120 million, up by 10% from the previous terms. Through its wholly-owned subsidiaries ARMCL and ICEDL, the company provides full-process consulting services covering pre-IPO, during IPO, and post-IPO stages, as well as ESG consulting services, mainly serving small and medium-sized enterprises. In the two fiscal years ending June 30, 2025, ARMCL, its core subsidiary, completed 3, 2, and 4 client businesses in pre-IPO, during IPO, and post-IPO consulting services respectively. Founded in 2018, Starrygazey generated $2 million in revenue in the 12 months ending December 31, 2025. The company plans to list on the Nasdaq under the stock symbol "MARH," with Pacific Century Securities serving as the sole bookrunner for this IPO.