Bend NovaTech Withdraws Nasdaq IPO Plans

Bend NovaTech Group, a Hong Kong-based provider of rebar prefabrication services, has withdrawn its plans for an initial public offering in the United States. The company withdrew the proposed offering on Tuesday after more than a year of having its IPO registration on file.

Bend NovaTech had originally sought to raise approximately $6 million through a Nasdaq listing, providing the small construction-services company with access to US public markets.

Company Focuses on Rebar Prefabrication

Bend NovaTech Group provides rebar prefabrication services in Hong Kong. The company was founded in 2021 and had established operations serving the construction sector before pursuing its US IPO.

According to the filing information, CEO and Director Ching Yi Li is the company’s primary shareholder, giving management a significant ownership position in the business.

The company generated approximately $12 million in revenue for the 12 months ended June 30, 2025, highlighting an operating business with revenue substantially above the size of its proposed equity offering.

IPO Proposed $6 Million Offering

Under its most recent proposed terms, Bend NovaTech planned to offer approximately 1.3 million shares at a price range of $4 to $6 per share. At the midpoint of the proposed range, the offering would have generated roughly $6.5 million in gross proceeds.

The company initially filed for the IPO in August 2025 and last amended its filing in October 2025. It planned to list on the Nasdaq under the ticker BENN.

Revere Securities and Craft Capital Management had been selected as joint bookrunners for the transaction.

Small-Cap IPO Environment Remains Challenging

The withdrawal removes another small Hong Kong-based issuer from the US IPO pipeline. Companies pursuing relatively small offerings can face challenges in attracting sufficient investor attention and achieving an efficient public-market listing, particularly when the proposed transaction provides limited scale.

Bend NovaTech’s withdrawal comes despite its established revenue base and presence in the construction-services industry. The company did not provide a specific reason for withdrawing its IPO plans in the information provided.

BENN Listing Plans Are Shelved

The planned Nasdaq listing under BENN will not proceed under the withdrawn offering. Bend NovaTech’s decision marks the end of its current attempt to raise US public-market capital after filing more than a year ago.

The company generated $12 million in revenue during the latest reported 12-month period, but the withdrawal means investors will not gain public-market exposure to its rebar prefabrication business through the proposed IPO.

For now, Bend NovaTech remains privately held, with its US listing plans shelved. The withdrawal underscores the difficulty smaller international companies can face when attempting to access US equity markets, even when they have an established operating business and meaningful revenue.