Shares of Top Win International Limited (Nasdaq: TOPW) skyrocketed 23.75% in intraday trading on Wednesday, marking a strong debut for the Hong Kong-based luxury watch wholesaler on the Nasdaq Capital Market. The surge comes after the company announced the pricing of its initial public offering (IPO) at $4.00 per share.

Top Win offered 2,664,000 ordinary shares in its IPO, raising approximately $10.6 million before deducting underwriting discounts and other offering expenses. The company has also granted the underwriters a 45-day option to purchase up to an additional 399,600 ordinary shares at the IPO price.

Headquartered in Hong Kong, Top Win International Limited operates as a wholesaler specializing in the trading, distribution, and retail of luxury watches. The company boasts a diverse portfolio of over 30 internationally renowned watch brands, positioning itself as a key player in connecting global suppliers with buyers across the Asia-Pacific luxury market.

The successful IPO and strong market debut highlight investor confidence in Top Win's business model and growth prospects. The company plans to use the net proceeds from the offering for brand marketing and promotion, sales team expansion, regional growth initiatives (including Southeast Asia), sourcing and inventory diversification, as well as working capital and general corporate purposes. As the luxury watch market continues to show resilience, Top Win's strategic position in Hong Kong, a premier regional hub for luxury goods, could provide a solid foundation for future growth.