Top Wealth Group Holding Ltd.

General Information
Business:

We offer luxury caviar products, primarily to customers in Hong Kong.  Our customers export a substantial portion of our caviar products. (Incorporated in the Cayman Islands) 

Our mission is to become a world-renowned supplier of caviar products and offer our caviar-based gourmet products around the globe with unparalleled gastronomical experience.

Headquartered in Hong Kong, we are a fast-growing supplier of luxury caviar products. We are currently specialized in supplying premium class sturgeons caviar. Our caviar is endorsed with the Convention on International Trade in Endangered Species of Wild Fauna and Flora (“CITES”) permits, which certifies that our caviar is legally traded. We are one of the major suppliers of caviar in Hong Kong being able to secure a long-term and exclusive supply of caviar raw products from sturgeon farm.

Since we established our caviar business in August 2021, we had supplied caviar to our customers under their brand labels (i.e. private labelling) or without brand labels. Subsequently in November 2021, we established our own caviar brand, “Imperial Cristal Caviar”, and started selling caviar under our own brand as well. With its exquisite package design, our branded caviar is ideal to be presented as both culinary delights and festive gifts. Imperial Cristal Caviar has continuously achieved tremendous sales growth since its launch in the market.

Our customers primarily and substantially include food and beverage (“F&B”) related distributors. We have strategically focused on business-to-business sales (B2B) which would allow us access to our customers’ sales network and consumer base that helps us maximize the reach of our products swiftly and effectively. As our caviar products gain popularity worldwide, our customer base has continuously expanded as a result of customers’ referral and our marketing efforts.

Our caviar products are mainly sold to customers based in Hong Kong and a substantial portion are exported overseas by our customers. As our products gradually become more well-known in the international market, we aspire to expand our sales channels from only selling through distributors to selling our products directly to overseas customers.

We take pride in our well-tested, reliable caviar supply chain management module, which helps ensure the palatability and freshness of our products when they reach our customers. We are among one of the few Hong Kong caviar suppliers being able to secure a long-term and exclusive supply of caviar raw products from sturgeon farm. In April 2022, we entered into an exclusive supply agreement with Fujian Aoxuanlaisi Biotechnology Co., Ltd (“Fujian Aoxuanlaisi”), the agent and sole distributor of a well-established sturgeon farm in Fujian, the PRC, and we are appointed as Fujian Aoxuanlaisi’s exclusive distributor in Hong Kong and Macau for conducting overseas distribution and granted us the rights to procure caviar directly from it for a term of 10 years. This sturgeon farm is one of the six existing PRC sturgeon farms which are officially permitted to export locally-bred roe. We have engaged a Hong Kong-based supply chain management company to handle the logistics, warehousing and packaging workflows in our supply chain, so we can strategically focus on brand-building and product quality assurance.

Note: Net income and revenue are for the 12 months that ended on June 30, 2023.

(Note: Top Wealth Group Ltd. priced its small-cap IPO in sync with the terms in its prospectus, as expected, on Monday night, April 15, 2024: The company priced 2.0 million shares at $4.00 – the low end of its $4.00-to-$6.00 price range – to raise $8.0 million. Background: Top Wealth Group Holding Ltd. disclosed in an F-1/A filing dated Feb. 9, 2024, that Revere Securities is the sole book-runner for its IPO. Previous filings included Pacific Century Securities as a joint book-runner. Note: The assumed IPO price is $4.00 – the low end of the $4.00-to-$6.00 range in the prospectus.)

(Background: Top Wealth Group Holding Ltd. filed its F-1 on Nov. 21, 2023, and disclosed terms for its IPO: 2.0 million shares at $4.00 to  $6.00 to raise $10.0 million. The assumed IPO price is $4.00 – the low end of the range. Background: The company submitted confidential IPO documents to the SEC on May 17, 2023.)

Industry: Food & Kindred Products - CAVIAR
Employees: 12
Founded: 2009
Contact Information
Address Units 714 & 715 7F, Hong Kong Plaza 118 Connaught Road West Hong Kong
Phone Number +852 36158567
Web Address https://www.imperialcristalcaviar.com/
View Prospectus: Top Wealth Group Holding Ltd.
Financial Information
Market Cap $145.0mil
Revenues $11.8 mil (last 12 months)
Net Income $2.3 mil (last 12 months)
IPO Profile
Symbol TWG
Exchange NASDAQ
Shares (millions): 2.0
Price range $4.00 - $4.00
Est. $ Volume $8.0 mil
Manager / Joint Managers Revere Securities
CO-Managers
Expected To Trade: 4/16/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
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