Pyrostone Holdings Ltd

F-1 filed

Price $4.00 · 1,500,000 shares · Gross proceeds $6,000,000

Pyrostone Holdings Ltd. is conducting its initial public offering (IPO) of 1,500,000 Class A Ordinary Shares at an estimated price of $4.00 per share, aiming to list on the Nasdaq Capital Market under the symbol PYST. The company, a Cayman Islands holding company, operates through its Hong Kong-based subsidiary, Ravia Global Appraisal Advisory Limited. The IPO introduces a dual-class share structure, with Class A shares (1 vote per share) and Class B shares (20 votes per share), retaining control by founders Mr. Chun Fai NG and Dr. Wai Kin Alan LEE. The offering faces risks related to PRC regulatory actions, potential loss of control by shareholders, and uncertainty around Nasdaq approval.

DRS/A amended

Pyrostone Holdings Ltd. is conducting an initial public offering (IPO) of its Class A Ordinary Shares, with an estimated price range of US$[ ] to US$[ ]. The company plans to list on the Nasdaq Capital Market under the symbol [ ], though approval is not guaranteed. The offering will result in a dual-class share structure, with Class A shares carrying one vote and Class B shares carrying 20 votes, maintained by controlling shareholders Dr. Wai Kin Alan LEE and Mr. Chun Fai NG. The filing highlights risks related to PRC government oversight of Hong Kong-based operations and regulatory uncertainties.

DRS filed

Pyrostone Holdings Ltd. has submitted a draft registration statement (DRS) for its initial public offering (IPO) in the U.S., with no prior filings. The company plans to list Class A Ordinary Shares on Nasdaq, though approval is not guaranteed. It maintains a dual-class share structure, with Class B shares holding 20 votes per share. The filing highlights risks related to PRC regulatory oversight, potential operational disruptions, and uncertainties around the IPO's completion. The company is an emerging growth company and a foreign private issuer.