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Magic Empire Global Limited (symbol: MEGL) is a leading financial services provider based in Hong Kong. The company specializes in offering a wide range of corporate finance advisory services and underwriting services. MEGL's core business operations include IPO sponsorship services, financial advisory and independent financial advisory services. Additionally, they provide compliance advisory services, underwriting services, and various corporate services to meet the diverse needs of their clientele.
Magic Empire Global Limited has established itself as a reliable partner in the financial industry. Their IPO sponsorship services are designed to assist companies in going public, ensuring a seamless and efficient process. Moreover, their financial advisory services offer expert guidance on financial planning, investment strategies, and risk management, helping clients make informed decisions.
The independent financial advisory services provided by MEGL cater to clients seeking unbiased and professional advice on financial matters. Their compliance advisory services ensure that clients adhere to regulatory requirements, minimizing risks associated with non-compliance. In terms of underwriting services, MEGL supports clients in securing funding for various business initiatives, enhancing their growth potential.
MEGL's corporate services encompass a range of solutions such as company formation, secretarial services, and other administrative support, enabling businesses to focus on their core operations. The company's commitment to excellence is evident in their consistent performance and strong client relationships.
Recent achievements of Magic Empire Global Limited include successful IPO sponsorships, strategic partnerships with key industry players, and the launch of innovative financial products. The company's financial condition remains robust, supported by a strong balance sheet and prudent financial management.
Stay updated with the latest news and developments about Magic Empire Global Limited, as they continue to make significant strides in the financial services sector.
Magic Empire Global (MEGL) reported its unaudited financial results for H1 2024. Revenue increased by 26.9% to HK$7.7 million (US$1.0 million), primarily driven by successful completion of two Nasdaq listing advisory projects. However, net income decreased by 13.6% to HK$0.6 million (US$80,000). The company's financial advisory services revenue significantly increased to HK$6.9 million, while compliance advisory services revenue decreased to HK$0.5 million. Selling, general and administrative expenses rose 27.6% to HK$9.2 million due to increased staff costs and business development expenses. Basic and diluted EPS decreased to HK$0.03 from HK$0.04 in the previous year.
Magic Empire Global (NASDAQ: MEGL) has received a notification from Nasdaq granting an additional 180 calendar days, until February 24, 2025, to regain compliance with the minimum bid price requirement of $1 per share. This extension was granted based on MEGL meeting other continued listing requirements for the Capital Market, except for the bid price requirement. The company has expressed its intention to cure the deficiency, potentially through a reverse stock split if necessary.
If MEGL fails to demonstrate compliance by the new deadline, Nasdaq will provide written notification of delisting, at which point the company may appeal to a hearing panel. MEGL is currently evaluating options to regain compliance but cautions that there is no assurance of success in meeting the rule requirements.
Magic Empire Global Limited (Nasdaq: MEGL) has successfully closed its initial public offering (IPO) of 5,000,000 ordinary shares at $4.00 each, raising $20 million in gross proceeds. The shares began trading on Nasdaq on August 5, 2022. The offering was conducted on a firm commitment basis, with Network 1 Financial Securities, Inc. serving as the lead underwriter. The SEC declared the registration statement effective on August 4, 2022, and the final prospectus was filed the following day, with further information accessible via the SEC's website.
Magic Empire Global Limited (MEGL) has priced its initial public offering (IPO) at $4.00 per share for 5,000,000 ordinary shares, aiming for total gross proceeds of $20 million. The shares are set to begin trading on Nasdaq on August 5, 2022, with the offering expected to close around August 9, 2022, pending customary conditions. Network 1 Financial Securities, Inc. is the lead underwriter. A registration statement has been filed with the SEC, and a final prospectus will be available through the underwriter and the SEC's website.
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