Singapore‑based corporate consulting firm HAMA Intelligence has refiled its registration with the U.S. Securities and Exchange Commission for a $7 million initial public offering, reducing its planned share sale by roughly 20 percent from earlier filings. The revised offering reflects the company’s strategic adjustment amid evolving market conditions and provides investors an opportunity to access a boutique financial advisory firm seeking growth through U.S. public markets. The move underscores increasing cross‑border IPO activity from Asia‑Pacific advisory firms targeting broader institutional capital.
Company Background
HAMA Intelligence, founded in 2025 and headquartered in Singapore, delivers corporate consulting services including accounting, internal control, tax compliance, and strategic financial advisory. The firm primarily serves small and mid-sized enterprises as well as publicly listed companies, offering outsourced financial operations and business growth guidance. Led by founder and chairman Wing Sum Ho, HAMA has attracted a mix of private investors while retaining a majority shareholder structure with its management team. The company reported approximately $1.82 million in revenue for the year ended February 28, 2025, representing a 26 percent year-on-year increase, reflecting growing demand for outsourced advisory services in the Asia-Pacific region.
IPO Details
The IPO will offer 1.1 million Class A ordinary shares on the Nasdaq Capital Market under the ticker symbol “HAMA,” with an expected price range of $5 to $7 per share. At the midpoint of this range, the implied market capitalization would reach roughly $121 million. Underwriters for the offering include Pacific Century Securities and Revere Securities. The revision of the share count and offering size signals management’s cautious approach in light of market volatility while maintaining sufficient capital to support operational expansion.
Market Context and Opportunities
The offering takes place amid a recovering IPO environment in the U.S., where smaller listings have begun to regain investor attention following periods of market volatility. Within the financial advisory sector, demand for compliance and outsourced consulting services remains strong, driven by regulatory complexity and digitalization across regional markets. Singaporean and Hong Kong-based advisory firms, in particular, have found appeal with U.S. investors seeking exposure to growth-oriented boutique operations that complement global financial portfolios.
Risks and Challenges
Despite opportunities, HAMA faces notable challenges. Competition from larger multinational consulting firms, potential regulatory hurdles in cross-border operations, and the need to sustain profitability as a public entity introduce risk. Additionally, the firm’s modest revenue base may limit investor appetite compared with more established players, and broader market volatility could impact subscription rates and post-listing performance.
Forward-Looking Perspective
HAMA Intelligence’s IPO will test whether boutique advisory firms can successfully leverage U.S. capital markets to scale operations while maintaining operational and financial discipline. The market will be closely watching whether the company can convert early interest into sustained growth, potentially setting a benchmark for cross-border listings from small-to-mid cap advisory firms, or whether the IPO will serve primarily as a targeted capital-raising event.
