RUI Holdings files for 4M share IPO at $4-$5/sh

RUI Holdings Inc filed for an initial public offering Friday, seeking to list Class A ordinary shares on the Nasdaq Capital Market under the symbol "RUIH," according to a company filing.

The Cayman Islands-based holding company expects to price 4,000,000 shares between $4.00 and $5.00 per Class A ordinary share. Cathay Securities serves as the sole underwriter for the firm commitment offering.

RUI Holdings operates as a holding company with business conducted through subsidiaries rather than variable interest entities. The company noted that as a holding company, it may depend on dividends from subsidiaries for cash requirements, including shareholder dividend payments.

The offering involves a dual-class share structure. Class A ordinary shares carry one vote per share, while Class B ordinary shares provide 20 votes per share. Class B shares can convert to Class A shares on a one-to-one basis at the holder's option and automatically convert upon transfer to non-affiliates.

The company has applied for Nasdaq listing approval, though final approval remains pending. The offering's completion depends on Nasdaq's approval of the listing application.

No public market currently exists for RUI Holdings shares. The filing did not specify the number of shares being offered or expected proceeds from the IPO.

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