Hong Kong consulting firm Purple Cloud Oriental (YLY.US) applies to go public in the US, planning to raise 8 million US dollars.

According to the Zhitong Finance and Economics APP, Hong Kong consulting firm Purple Cloud East filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC) on Friday. The company plans to issue 1.5 million shares of stock at a price of $4 to $6 per share, raising $8 million. Based on the midpoint of the proposed price range, Purple Cloud East's market value will reach $83 million.