Pitanium Ltd

PTNM

HONG KONG, June 02, 2025 (GLOBE NEWSWIRE) -- Pitanium Limited (Nasdaq: PTNM) (“Pitanium” or the “Company”), a company that retails its proprietary brand focusing on beauty and personal care products, announced today that it closed its initial public offering of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”) at $4.00 per Class A Ordinary Share (the “Offering”).

One IPO and four SPACs debuted this week. One small IPO and four SPACs submitted initial filings. Two sizable IPOs are scheduled to price in the week ahead.

HONG KONG, May 30, 2025 (GLOBE NEWSWIRE) -- Pitanium Limited (“Pitanium” or the “Company”), a company that retails its proprietary brand focusing on beauty and personal care products, announced today that it priced its initial public offering of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”) at $4.00 per Class A Ordinary Share (the “Offering”).

HONG KONG, May 30, 2025 (GLOBE NEWSWIRE) -- Pitanium Limited (“Pitanium” or the “Company”), a company that retails its proprietary brand focusing on beauty and personal care products, announced today that it priced its initial public offering of 1,750,000 Class A ordinary shares (the “Class A Ordinary Shares”) at $4.00 per Class A Ordinary Share (the “Offering”).

Pitanium Limited is seeking to raise $7.9 million in a U.S. IPO. The company's revenue is growing at only 8.2% YOY, with a small revenue base and high channel concentration in Hong Kong. Management's valuation expectations are excessive, with an EV/Revenue multiple of 10x and an EV/EBITDA multiple of 42x, far above industry norms.