CRE.US, a Hong Kong-based creative company, has reduced the size of its IPO fundraising, now planning to raise US$7 million.

CRE.US, a financial printing and services provider in Hong Kong, announced on February 3 that it would reduce the proposed size of its upcoming IPO. According to its latest filing, the company also replaced its lead underwriter, Benjamin Securities, with American Trust Investment Services. CRE currently plans to issue 1.5 million shares at a price range of $4 to $5, expected to raise $7 million. Previously, the company had applied to issue 1.8 million shares at the same price range. At the midpoint of the range, the expected proceeds from the IPO would be about 13% lower than previously anticipated. CRE was founded in 2006 and through its Hong Kong operating subsidiary Cre8 Hong Kong, provides 24/7 comprehensive financial printing services to listed companies, IPO applicants, and private companies in the Hong Kong financial and capital markets. Its services include concept creation, illustration design, typesetting, proofreading, translation, printing, binding, logistics arrangement, and submission of clients' financial reports and compliance documents to the Stock Exchange of Hong Kong, as well as supplementary design services such as website design, brand promotion, and content creation for marketing materials. CRE generated revenue of $14 million in the 12 months ended June 30, 2024. The company plans to list on the Nasdaq under the symbol CRE, with American Trust Investment Services and Prime Number Capital as joint bookrunners for the IPO.