Japanese restaurant group Riku Dining (RIKU.US) plans to set its IPO price at $4 to $6, aiming to raise $25 million.

Riku Dining Group (RIKU.US), which operates and franchises Japanese restaurants in Canada and Hong Kong, announced the terms of its initial public offering (IPO) on Monday. The company, headquartered in Toronto, Canada, plans to raise $25 million by issuing 5 million shares of stock at a price range of $4 to $6 per share. The company is a restaurant operator with Japanese-themed dining concepts in Canada and Hong Kong. In Canada, the company holds the franchise rights for Ajisen Ramen, operating four restaurants directly in Ontario and franchising nine others. In Hong Kong, the company holds franchise rights for three brands, with a total of seven restaurants: Yakiniku Kakura, Yakiniku 801, and Ufufu Caf. For the fiscal year ending September 30, 2025, the company reported revenue of $16 million. The company plans to list on the Nasdaq under the ticker symbol RIKU. Eddid Securities and Futures is the sole underwriter for the transaction.