Decca Investment is the latest to set its sights on the U.S. IPO market. The company is looking to list on the Nasdaq exchange under the symbol DCCA, and Univest is underwriting the IPO.
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The IPO filing comes at a time when the U.S. IPO market is languishing with dwindling investor money. Nonetheless, the Hong-Kong-based woodwork maker is eyeing to raise around $33 million by offering 6 million shares, each priced between $4 and $7.
The company manufactures everything wooden, including architectural fixtures, fittings, and wooden furniture for hotels, offices, residences, and retail markets across Asia, the U.S., and Europe.
Proceeds from the offering will be used to enhance the business with more revenue channels, brands, designs, showrooms, and distributors in North America and Europe. Moreover, the company will also be better equipped to pursue growth-driving initiatives such as strategic acquisitions to expand its manufacturing capacity.
The company is doing well in terms of revenues, having achieved a 37% improvement in sales year-over-year in the fiscal year ending March 2021. Moreover, with home prices and mortgage rates sky-high, the home improvement sector is likely to get a push as residents upgrade their residences to suit different lifestyle needs. The proceeds will help Decca address this market’s growing needs better.
