Stock Track | Hang Feng Technology Innovation Soars 31.25% on Nasdaq Debut Following $5.5 Million IPO

Stock Track

Sep 12, 2025

Shares of Hang Feng Technology Innovation Co., Ltd. (NASDAQ: FOFO) are soaring 31.25% in their trading debut on the Nasdaq Capital Market, following the company's initial public offering (IPO). The Hong Kong-based corporate management consulting and asset management services provider priced its IPO at $4.00 per share, raising $5.5 million in gross proceeds.

The company offered 1,375,000 ordinary shares to the public, with trading commencing on Friday under the ticker symbol "FOFO". Additionally, Hang Feng granted the underwriters a 45-day option to purchase up to an additional 206,250 shares at the IPO price. The offering is expected to close on or about September 15, 2025, subject to customary closing conditions.

Hang Feng plans to use the proceeds from the IPO to strengthen its corporate management consulting business, develop its asset management services, drive business expansion and strategic partnerships, and support general working capital and operations. The strong market response to Hang Feng's public debut suggests investor confidence in the company's growth prospects and its position in the Hong Kong financial services sector.

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