Galaxy Payroll Stock Soars 96.81% on US IPO Filing

On April 8, 2025, Galaxy Payroll's stock surged by 96.81% in pre-market trading, marking a significant rise that has caught the attention of investors and analysts alike.

Galaxy Payroll Group Limited, a Hong Kong-based provider of payroll outsourcing services, employment services, and consultancy and market research services, has recently filed for an initial public offering (IPO) in the United States. The company aims to raise $24.8 million and has applied to be listed on the Nasdaq Capital Market under the symbol GLXG. This move comes as the demand for human resources (HR) outsourcing services in China continues to grow due to economic expansion and increased participation by foreign enterprises.

Institutional investors hold a significant stake in Galaxy Payroll, owning 44% of the company's shares. This high level of institutional ownership suggests that these investors are bullish on the company's prospects and stand to benefit significantly from any stock price appreciation. The company's competitive strengths include its extensive experience in the payroll outsourcing industry, well-established business relationships, and ability to ensure compliance with local regulations.

Galaxy Payroll's expansion into new markets, including Macau, Taiwan, Japan, Australia, and other Asian countries, further underscores its strategic growth initiatives. The company's ability to leverage its industry experience and established relationships with major customers positions it well to capitalize on the growing demand for in-country HR services in the PRC.