Hong Kong IT service provider ChainOn Group (CHON.US) is pricing its IPO at 4-6 dollars per share, aiming to raise 31 million dollars.

Hong Kong IT service provider ChainOn Group, which offers Web3, cloud computing, and software development services, submitted an initial public offering (IPO) application to the U.S. Securities and Exchange Commission (SEC) on Thursday, planning to raise up to $31 million. The company plans to issue 6.3 million shares of stock at a price range of $4 to $6 per share. ChainOn Group plans to list on the Nasdaq with the stock code "CHON". ChainOn Group is a technology services company based in Hong Kong, China, providing custom software development and technical solutions for enterprise clients, with a focus on blockchain and Web3 applications. The company was founded in 2017, initially named Success Illusion Limited, and primarily engaged in hardware distribution. After completing a brand reshaping in 2019, the company gradually exited the enterprise server sales business and transformed into a comprehensive technology service provider. The company's business is mainly divided into two service segments: project development services - covering the design and implementation of custom software projects; and consulting and support services - including ongoing project maintenance and hardware maintenance services, using a monthly subscription fee model. Data shows that the company generated revenue of $4 million in the past 12 months as of October 31, 2025.