Hong Kong apparel producer Riverstone files for US IPO

Hong Kong-based apparel manufacturer Riverstone has filed for a US IPO, with plans to list on the Nasdaq Capital Market under the ticker symbol ‘DNJF’.

The company is aiming to raise 15 million dollars by offering 2.5 million ordinary shares at an expected price range of five to seven dollars per share, a Securities and Exchange Commission filing revealed.

Riverstone said it intends to use the net proceeds for technology development; sustainability initiatives; retail stores and online expansion; market expansion; internal marketing campaigns; and staff training, among other things.

Founded in 2010, the firm serves as a B2B and B2C fast fashion supply chain management service provider, primarily working with clients across Hong Kong, the US, Australia, the UK and Mexico. It also operates a manufacturing facility in China, with a capacity to produce 600,000 garments monthly, and manages its own brand, Double Crazy.