Hong Kong, Sept. 16, 2025 — Hang Feng Technology Innovation Co., Ltd. (Nasdaq: FOFO), a Hong Kong-based provider of corporate management consulting and asset management services, announced today that the underwriters of its IPO have fully exercised their option to purchase an additional 206,250 ordinary shares at $4.0 each to cover overallotments. The company’s IPO generated gross proceeds of $6,325,000, including the overallotment exercise, before deducting underwriting discounts and related expenses. The overallotment option closed on September 16, 2025. Trading of the ordinary shares on the Nasdaq Capital Market commenced on September 12, 2025, under the ticker symbol “FOFO.”
The IPO proceeds will be allocated to strengthen the corporate management consulting business, develop the asset management business, fuel business expansion and strategic partnerships, and support general working capital and operations.
The IPO was executed on a firm commitment basis. Kingswood Capital Partners, LLC (“Kingswood”) served as the underwriter. Hunter Taubman Fischer & Li LLC acted as U.S. counsel to the Company, while VCL Law LLP served as U.S. counsel to Kingswood for the offering.
A registration statement on Form F-1 related to the IPO was filed with the SEC (File Number: 333-287284), as amended, and declared effective on September 12, 2025. The offering was made solely through a prospectus, which forms part of the registration statement. Copies of the final prospectus can be obtained from Kingswood via email, by mail to Kingswood, 7280 W. Palmetto Park Rd., Suite 301, Boca Raton, FL 33433, or by phone at +1-561-961-0505. The prospectus is also available on the SEC’s website.
This press release is not an offer to sell or a solicitation of an offer to buy the Company’s securities. The securities will not be offered or sold in the United States without registration or an applicable exemption from registration, nor will any offer, solicitation, or sale occur in any jurisdiction where such action would be unlawful prior to registration or qualification under local securities laws.
About Hang Feng Technology Innovation Co., Ltd.
Hang Feng Technology Innovation Co., Ltd., based in Hong Kong, delivers comprehensive corporate management consulting and specialized asset management services to meet diverse client requirements. Since 2023, Hang Feng, through its subsidiary Starchain Investment Trading Limited (“Starchain”), has provided consulting services and identified market opportunities for a growing client base. Starchain offers tailored management consulting, including strategic growth insights, performance management reporting, KPI advisory, and support in regulatory compliance, risk management, and corporate governance. Responding to client demand for sophisticated asset management, the company launched these services in 2024, offering structured solutions for managing and growing corporate and individual capital portfolios. More information is available on the company’s website:
Forward-Looking Statements
This announcement contains forward-looking statements that involve risks and uncertainties. These statements are based on the Company’s current expectations and projections regarding future events that may impact its financial condition, operating results, business strategy, and financial needs. These statements can often be identified by the use of terms like “may,” “will,” “could,” “expect,” “anticipate,” “aim,” “estimate,” “intend,” “plan,” “believe,” “is/are likely to,” “propose,” “potential,” “continue” or similar expressions. The Company does not commit to updating or revising these statements to reflect new events, circumstances, or changes in expectations, except as legally required. While the Company believes these expectations are reasonable, it cannot guarantee their accuracy and advises investors that actual results may differ materially. Investors are encouraged to review other factors in the Company’s registration statement and SEC filings that could affect future results.
For more information, please contact:
Hang Feng Technology Innovation Co., Ltd.
Investor Relations Department
Email:
Ascent Investors Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email:
“`