Happiness Biotech Group Limited (HAPP) Announces October 31st IPO

Happiness Biotech Group Limited (HAPP) expects to raise $11 million in an initial public offering (IPO) on Thursday, October 31st, IPO Scoop reports. The company plans to issue 2,000,000 shares at $5.50 per share.

In the last 12 months, Happiness Biotech Group Limited generated $63.9 million in revenue and $18.7 million in net income. Happiness Biotech Group Limited has a market-cap of $126.5 million.

Univest Securities acted as the underwriter for the IPO and WestPark Capital, Newpridg and Zivest Global were co-managers.

Happiness Biotech Group Limited provided the following description of their company for its IPO: ”  We are an innovative nutraceutical and dietary supplements producer focused on the research, development, manufacturing, marketing and sales of a variety of products made from Chinese herbal and animal extracts in China. We conduct our business through our wholly-owned subsidiaries, mainly Fujian Happiness. Founded in 2004, Fujian Happiness focuses on providing nutraceutical solutions made from Chinese herbal extracts. We believe enhanced consumer awareness and demand for nutraceutical and dietary supplements, rising health care costs, aging populations, coupled with our effective sales have been the primary reasons for our growth throughout our 14 years of operating history. “.

Happiness Biotech Group Limited was founded in 2004 and has 179 employees. The company is located at No. 11 Dongjiao East Road, and No. 134, Freight Yard Road, Shunchang, Nanping City, Fujian Province, People’s Republic of China and can be reached via phone at + 86-0599-782-8808 or on the web at http://www.fjxfl.com.

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