Hong Kong food distributor Billion Group (BGHL.US) withdraws $ 8 million US stock IPO plan.

Hong Kong-based high-end food distributor Billion Group (BGHL.US) withdrew its IPO plan last Friday. The company had previously applied to raise $8 million by issuing 1.6 million shares of stock, with an offering price range of $4 to $6 per share. As a high-end food supplier, the company mainly provides quality and scarce products to Hong Kong catering distributors and luxury retail channels. In its product portfolio, frozen food accounts for 60% (24% of FY revenue, the same below), premium wines and spirits account for 24%, high-end seafood accounts for 15%, and other food accounts for 1%. Founded in Hong Kong, China in 2015, the company generated $9 million in revenue in the 12 months ending June 30, 2025. The company had originally planned to list on the Nasdaq with the stock ticker symbol "BGHL." American Trust Investment Services was slated to be the exclusive bookrunner for the transaction.