HF Enterprises (HFEN) to Raise $17 Million in IPO

HF Enterprises (HFEN) expects to raise $17 million in an IPO on Friday, November 13th, IPO Scoop reports. The company will issue 2,600,000 shares at a price of $6.00-$7.00 per share.

In the last twelve months, HF Enterprises generated $26.9 million in revenue and had a net loss of $5.1 million. The company has a market cap of $58.5 million.

WestPark Capital served as the underwriter for the IPO.

HF Enterprises provided the following description of their company for its IPO: ”  HF Enterprises Inc. is a diversified holding company principally engaged through its subsidiaries in property development, digital transformation technology and biohealth activities with operations in the United States, Singapore, Hong Kong and Australia. We manage our three principal businesses primarily through our 65.4%-owned subsidiary, Singapore eDevelopment Ltd., a public company traded on the Singapore Stock Exchange. Through this subsidiary (and indirectly, through other public and private U.S. and Asian subsidiaries), we are actively developing two significant real estate projects near Houston, Texas and in Frederick, Maryland in our property development segment. We have designed applications for enterprise messaging and e-commerce software platforms in the United States and Asia in our digital transformation technology business unit. “.

HF Enterprises was founded in 2018 and has 17 employees. The company is located at 4800 Montgomery Lane, Suite 210, Bethesda, MD 20814, US and can be reached via phone at (301) 971-3940 or on the web at http://www.hfenterp.com.

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