Galaxy Payroll Group LTD has applied for an IPO for 2,500,000 shares. The company did not specify the expected price range.
The company describes itself as follows: “We are a holding company based in the British Virgin Islands (BVI). As a holding company with no operations, we are not a Chinese operating company. Our business is conducted through our operating entities, which include our indirect wholly owned subsidiaries, such as Galaxy Payroll Services Limited (“Galaxy Payroll (HK)”), Galaxy GEO Services Limited (“Galaxy GEO Services”), Galaxy Corporate Management Consultancy (Shenzhen) Limited (“Galaxy HR (SZ)”) ), Galaxy Human Resources Limited (“Galaxy HR (TW)”) and Galaxy Recursos Humanos (Macau) Limitada (“Galaxy HR (Macau)”), located in Hong Kong , the PRC, Taiwan and Macau are incorporated. As a reputable Hong Kong-based payroll outsourcing service provider, employment placement, consulting and market research service provider, the Company, through its operating entities, provides services to our clients which are mainly categorized into (i) Channels, which are are global recruitment agencies engaged by companies/organizations that handle payroll and/or employment matters for their offices in different regions; (ii) End Users, which are primarily multinational companies/organizations that outsource their payroll and/or employment functions directly to us; (iii) end users advising us for their future global expansion. Galaxy HR (SZ), Galaxy Payroll (HK), Galaxy HR (TW) and Galaxy HR (Macau) provide payroll outsourcing services in mainland China, Hong Kong, Taiwan and Macau. Galaxy HR (SZ), Galaxy Payroll (HK), Galaxy GEO Services and Galaxy HR (TW) provide employment services in mainland China, Hong Kong and Taiwan; and Galaxy Payroll (HK) provides consulting and market research services in Hong Kong. End users of our Services can be either (i) our indirect customers who contact us through channels; or (ii) our direct customers. This is an offering of the common shares of Galaxy Payroll Group Limited, the BVI incorporated holding company, in lieu of shares in our operating entities. They must never directly hold an equity interest in our operating entities.”
Prime Number Capital will act as sole underwriter.
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