Top Win International Limited (NASDAQ: TOPW), a Hong Kong-based luxury watch wholesaler, saw its stock price soar by 23.75% in intraday trading following its initial public offering (IPO) and debut on the Nasdaq Capital Market. The company's shares commenced trading under the ticker symbol "TOPW," marking a significant milestone for the luxury watch distributor.

The company announced the pricing of its IPO at $4.00 per share, offering 2,664,000 ordinary shares to the public. This initial offering is expected to raise approximately $10.6 million in gross proceeds before deducting underwriting discounts and other offering expenses. Additionally, Top Win has granted the underwriters a 45-day option to purchase up to an additional 399,600 ordinary shares at the IPO price, potentially increasing the total offering size.

Top Win International Limited specializes in the trading, distribution, and retail of luxury watches from over 30 internationally renowned brands. The company plans to use the net proceeds from the IPO for brand marketing and promotion, sales team expansion, regional growth (including Southeast Asia), sourcing and inventory diversification, as well as working capital and general corporate purposes. This successful market debut could provide Top Win with the resources needed to strengthen its position in the luxury watch market and pursue its growth strategies in the Asia-Pacific region.