Hong Kong-based construction contractor Skyline Builders Group Holding (SKBL, Financial) has filed for an initial public offering (IPO) with the U.S. Securities and Exchange Commission (SEC), aiming to raise up to $6 million. The company plans to issue 1.5 million shares at a price of $4 each, which would value the firm at $120 million.
Operating through its subsidiary, Kin Chiu Engineering, Skyline Builders focuses on public infrastructure projects, primarily constructing roads and drainage systems for clients in Hong Kong. Although it mainly serves as a subcontractor in civil engineering works, it also holds the qualifications necessary to operate as a general contractor.
Founded in 2012, Skyline Builders reported a revenue of $49 million for the twelve months ending March 31, 2024. The company is set to list on the Nasdaq under the ticker SKBL. The IPO process began with a confidential filing on August 9, 2024, with Pacific Century Securities serving as the sole bookrunner for the deal.
