Hong Kong Mobile App Developer EvoNexus Group (EVON.US) Withdraws $8 Million US IPO Application

Stock News01-14

EvoNexus Group (EVON.US), a mobile application developer specializing in social entertainment and based in Hong Kong, announced on Tuesday the withdrawal of its initial public offering (IPO) plan. The company's previously filed prospectus indicated an intention to issue 2 million shares at $4 per share, aiming to raise $8 million. The IPO application was initially submitted last September, with the most recent update to the prospectus completed in November of the same year. According to the prospectus, EvoNexus is dedicated to developing and operating a series of social entertainment mobile applications, with a product portfolio including apps such as LivChat, BunchatLite, PeachU, Meeya, MeetClub, BakBak, UpChat, Timo, and RealCall. Established in 2019, the company recorded revenue of $12 million for the 12-month period ending February 28, 2025. It was originally planned to list on the Nasdaq exchange under the ticker symbol EVON, with Kingswood Capital Markets serving as the sole bookrunner for the IPO.

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