Hong Kong-based investment education provider Hao Feng Group (HFE.US) has submitted its registration documents to the U.S. Securities and Exchange Commission (SEC), aiming to raise as much as $21 million through an initial public offering. The company plans to offer 3.2 million shares at a price range of $5 to $8 per share, with total proceeds capped at $21 million. At the midpoint of the proposed pricing range, the company's market capitalization would reach approximately $151 million.

Hao Feng Group operates a fee-based investment education center in Hong Kong, delivering both offline and online courses to retail and high-net-worth investors. Its curriculum covers areas such as stock trading, portfolio management, fundamental analysis, and investment strategies, with revenue primarily generated from tuition fees paid by annual subscribers and workshop charges. The firm offers three distinct course packages: one-month, six-month, and twelve-month programs.

Based on 2024 revenue figures, the company ranks third among investment education providers in Hong Kong. Established in 2012, Hao Feng Group recorded $2 million in revenue for the twelve-month period ending March 31, 2026. The company has confidentially filed its paperwork as of April 10, 2026, and intends to list on the NYSE American exchange under the ticker symbol "HFE," with Eddid Securities serving as the sole book-running manager for the offering.

For investors, the move highlights the growing interest in specialized financial education as retail participation in markets expands. However, the relatively small revenue base and competition within the sector will be key factors to watch as the listing progresses.