The Zhitong Finance App learned that Timwood Holdings (TIWD.US), a manpower solutions provider for aviation and airport services in Hong Kong, China, submitted an application to the US Securities and Exchange Commission (SEC) last Friday to raise up to 28 million US dollars through an initial public offering (IPO). The company plans to raise $28 million by issuing 5.6 million shares in the price range of $4 to $6 per share. At the midpoint of the proposed range, Timwood Holdings' market capitalization would reach US$128 million.
Timwood Holdings is a manpower solutions provider for the aviation logistics industry headquartered in Hong Kong. Through its indirect wholly-owned operating subsidiary, Timwood Asia Logistics, it provides manpower support to airport terminal service providers and aviation service providers. The company's services cover manpower needs in three areas: cargo handling, airport ground handling services, and terminal passenger services. Its main business is to deploy warehousing personnel in airport terminal facilities, responsible for physical handling operations and forklift operation of imported and exported goods, and to support uninterrupted cargo handling operations 24 hours a day.
The company was founded in 2018 and achieved revenue of $8 million in the 12 months ending December 31, 2025. The company plans to list on NASDAQ under the ticker TIWD. Timwood Holdings submitted a confidential listing application on November 5, 2025. Kingswood Capital Markets acted as sole bookkeeper for the transaction.