Hong Kong IT Services Firm ChainOn Group Sets IPO Price Range at $4 to $6 Per Share, Targeting $31 Million in Proceeds

Stock News06-26

Hong Kong-based IT services provider ChainOn Group, which offers Web3, cloud computing, and software development services, has filed for an initial public offering with the U.S. Securities and Exchange Commission. The company is seeking to raise up to $31 million.

The firm plans to offer 6.3 million shares, with an expected price range of $4 to $6 per share. It intends to list on the Nasdaq stock exchange under the ticker symbol "CHON".

ChainOn Group is a technology services company headquartered in Hong Kong, providing custom software development and technical solutions for enterprise clients, with a particular focus on blockchain and Web3 applications. The company was founded in 2017 and was originally named Success Illusion Limited, primarily engaged in hardware distribution.

Following a rebranding in 2019, the company gradually exited the enterprise server sales business and transformed into a comprehensive technology services provider. Its operations are primarily divided into two main service segments: project development services, which cover the design and implementation of custom software projects; and consulting and support services, which include ongoing project maintenance and hardware maintenance services, offered on a monthly subscription fee model.

Financial data shows that the company generated revenue of $4 million over the twelve-month period ended October 31, 2025.

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