Etoiles Capital Group Co., Ltd Announces Closing of Initial Public Offering

Rhea-AI Summary

Etoiles Capital Group (Nasdaq: EFTY), a Hong Kong-based financial services provider, has successfully completed its Initial Public Offering (IPO). The company offered 1,400,000 Class A Ordinary Shares at US$4.00 per share, raising gross proceeds of US$5.6 million.

The shares began trading on the Nasdaq Capital Market on August 8, 2025. The underwriters have a 45-day option to purchase an additional 210,000 shares. Prime Number Capital, LLC served as the lead underwriter. The proceeds will fund business expansion, technology infrastructure, strategic marketing, and general corporate purposes.

Positive

• None.

Negative

• Relatively small IPO size of US$5.6 million may limit growth potential
• Potential dilution if underwriters exercise option for additional shares

Insights

IPO Analysis Specialist

Etoiles Capital completed a modest $5.6M IPO at $4/share, indicating a small-cap entry with focused growth strategy.

Etoiles Capital Group has completed its initial public offering, raising $5.6 million by offering 1.4 million Class A Ordinary Shares at $4.00 per share. The Hong Kong-based financial services provider began trading on the Nasdaq Capital Market under ticker symbol EFTY on August 8.

This represents a relatively small IPO by market standards, suggesting a cautious market entry strategy. The $4.00 share price positions EFTY firmly in the micro-cap category, which typically faces higher volatility and liquidity challenges than larger offerings.

The company has granted underwriters a 45-day option to purchase an additional 210,000 shares, which could potentially increase total proceeds by 15% if fully exercised. Prime Number Capital served as the sole book-runner, indicating a streamlined underwriting approach typical for smaller offerings.

The stated use of proceeds—business expansion, technology infrastructure, and strategic marketing—suggests a growth-oriented strategy. However, the relatively modest capital raise may limit the scope and pace of these initiatives compared to larger competitors.

For investors, this IPO represents access to the Hong Kong financial services sector, though the small offering size suggests the company may require additional capital raises in the future to fund significant growth ambitions, potentially diluting early shareholders.

HONG KONG, Aug. 11, 2025 (GLOBE NEWSWIRE) -- Etoiles Capital Group Co., Ltd (Nasdaq: EFTY), a Hong Kong-based financial services provider, today announced the closing of its initial public offering (the “Offering”) of 1,400,000 Class A Ordinary Shares at US$4.00 per share to the public. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts. The Class A ordinary shares began trading on the Nasdaq Capital Market on August 8, 2025 under the ticker symbol “EFTY.”

The Company received aggregate gross proceeds of US$5.6 million from the Offering, before deducting underwriting discounts and other related expenses.

Proceeds from the Offering will be used for business expansion, technology infrastructure, strategic marketing, and general corporate purposes.

The Offering was conducted on a firm commitment basis. Prime Number Capital, LLC acted as the representative underwriter and sole book-runner for the Offering. Loeb & Loeb LLP acted as the U.S. counsel to the Company, Ogier acted as the Cayman Islands counsel to the Company, and Ye & Associates, P.C. acted as the U.S. counsel to the underwriting syndicate in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (“SEC”) (File Number: 333-287302) and was declared effective by the SEC on August 7, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement. A final prospectus relating to the Offering was filed with the SEC on August 7, 2025, which may be obtained from Prime Number Capital, LLC, 12 E 49 St, Floor 27, New York, NY 10017, Attention: Shenghui Yang by email at ecm@pncps.com, or by calling +1(347) 329-1575. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.

Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. Investors can identify these forward-looking statements by words or phrases such as “approximates,” “assesses,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or similar expressions. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company's registration statement and other filings with the SEC.

About Etoiles Capital Group Co., Ltd
Etoiles Capital Group (Nasdaq: EFTY) is a Cayman Islands holding company operating through its Hong Kong subsidiary, Etoiles Consultancy Limited. The firm provides integrated financial advisory, capital markets solutions, and initial public offering consulting services to corporate clients, supporting their growth in global markets.

Contacts
Company Inquiries:
Etoiles Capital Group Co., Ltd
Room 1109, 11/F, Tai Yau Building
181 Johnston Road, Wanchai, Hong Kong
ir@etoilesfin.com | +852 2398 8699

Underwriter Inquiries:
Prime Number Capital, LLC
27F, 12E 49th Street, New York, NY 10017
info@pncp.com | (347) 329-1575

FAQ

How much did Etoiles Capital Group (EFTY) raise in its IPO?

Etoiles Capital Group raised US$5.6 million in gross proceeds through its IPO, offering 1,400,000 Class A Ordinary Shares at US$4.00 per share.

When did EFTY stock begin trading on Nasdaq?

EFTY shares began trading on the Nasdaq Capital Market on August 8, 2025 under the ticker symbol 'EFTY'.

What will Etoiles Capital Group use the IPO proceeds for?

The company will use the proceeds for business expansion, technology infrastructure, strategic marketing, and general corporate purposes.

Who was the lead underwriter for the EFTY IPO?

Prime Number Capital, LLC acted as the representative underwriter and sole book-runner for the offering.

What is the underwriter's option in EFTY's IPO?

The underwriters have a 45-day option to purchase up to an additional 210,000 Class A ordinary shares at the public offering price, less underwriting discounts.