Primagrove Ltd

What the company does

Primagrove Limited is a Cayman Islands holding company that conducts its operations through Oceanic Bounty Limited, its operating subsidiary in Hong Kong. The company operates in the technology services industry, providing IT solutions and related services to clients. It is an emerging growth company and a foreign private issuer, subject to reduced public company reporting requirements.

Underwriters

The completed effective-prospectus read stated no underwriters.

Extracted from F-1 0001213900-26-104919, filed Sep 30, 2026 and verified against that filing text.

Key risk factors

• Growth management risk

  “We may not be able to grow at the historical rate of growth, and if we fail to manage our growth effectively, our business may be materially and adversely affected.”

• Limited operating history

  “Our operating history may not provide an adequate basis to judge our future prospects and results of operations.”

• Competition

  “The market in which we operate is intensely competitive, and if we do not compete effectively, our operating results could be harmed.”

• Customer concentration and turnover

  “Our revenue is highly dependent on securing new, large projects, and we have experienced significant customer turnover.”

• Reliance on third-party suppliers

  “We depend on a limited number of third-party suppliers for the execution of our projects, and the loss of any of these key suppliers, or a deterioration in our relationships with them, could have a material adverse effect on our ability to deliver services to our clients and on our financial results.”

• Controlled company status

  “We are a 'controlled company' within the meaning of the Nasdaq listing standards and, as a result, will qualify for, and intend to rely on, exemptions from certain corporate governance requirements.”

• PFIC classification risk

  “We may be classified as a passive foreign investment company, or PFIC, for U.S. federal income tax purposes for the current taxable year, which could result in adverse U.S. federal income tax consequences for U.S. Holders of our Ordinary Shares.”