The IPO Buzz: Wellchange Holdings (WCT) Prices IPO at $4 – Low End

Hong Kong-based software services company Wellchange Holdings Company Limited (WCT) priced its small IPO at $4.00 – the low end of its $4.00-to-$5.00 range – and sold 2.0 million shares – the number in the prospectus – to raise $8.0 million on Tuesday night, Oct. 1, 2024. At pricing, Wellchange Holdings had a market cap of $95 million. Wellchange Holdings’ stock is expected to start trading on NASDAQ today – Wednesday, Oct. 2, 2024. Dominari Securities and Revere Securities acted as the joint book-runners. Wellchange Holdings says in the prospectus that its operating subsidiary in Hong Kong “provides cloud-based SaaS platforms and software for small to medium enterprises (SMEs).” SaaS stands for Software as a Service. In Hong Kong, small to medium businesses typically have fewer than 100 employees if they are manufacturing companies and fewer than 50 employees if they are non-manufacturing enterprises. The company is incorporated in the Cayman Islands. Wellchange Holdings earned net income of about $940,000 on revenue of $2.49 million for the year that ended Dec. 31, 2023, according to financial statements in the prospectus. (For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on IPOScoop.com’s website.) Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board. To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message. Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions. Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions or anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.