Ming Shing Group Holdings Limited Prices $8,250,000 Initial Public Offering
Ming Shing Group Holdings announced the pricing of its initial public offering of 1,500,000 ordinary shares at $5.50 per share, expecting to raise $8.25 million in gross proceeds. The shares will trade on the Nasdaq Capital Market under symbol MSW starting November 22, 2024. The company granted underwriters a 45-day option to purchase up to 225,000 additional shares. Proceeds will fund workforce expansion, bank loan repayment, equipment acquisition, ERP system procurement, and working capital. The offering is expected to close on November 25, 2024, with Alexander Capital and Revere Securities as joint book-runners.
Ming Shing Group Holdings ha annunciato il prezzo della sua offerta pubblica iniziale di 1.500.000 azioni ordinarie a 5,50 $ per azione, con l'obiettivo di raccogliere 8,25 milioni di dollari in proventi lordi. Le azioni saranno quotate sul Nasdaq Capital Market con il simbolo MSW a partire dal 22 novembre 2024. L'azienda ha concesso ai sottoscrittori un'opzione di acquisto per ulteriori 225.000 azioni per un periodo di 45 giorni. I proventi saranno utilizzati per espandere la forza lavoro, rimborsare prestiti bancari, acquisire attrezzature, procurare un sistema ERP e aumentare il capitale circolante. Si prevede che l'offerta si chiuda il 25 novembre 2024, con Alexander Capital e Revere Securities come co-bookrunner.
Ming Shing Group Holdings anunció el precio de su oferta pública inicial de 1,500,000 acciones ordinarias a $5.50 por acción, con la expectativa de recaudar $8.25 millones en ingresos brutos. Las acciones se negociarán en el Nasdaq Capital Market bajo el símbolo MSW a partir del 22 de noviembre de 2024. La compañía otorgó a los suscriptores una opción de compra de hasta 225,000 acciones adicionales por un período de 45 días. Los ingresos se utilizarán para la expansión de la fuerza laboral, el reembolso de préstamos bancarios, la adquisición de equipos, la adquisición de un sistema ERP y capital de trabajo. Se espera que la oferta cierre el 25 de noviembre de 2024, con Alexander Capital y Revere Securities como co-lideres de la oferta.
밍 샹 그룹 홀딩스는 1,500,000주 보통주에 대한 공모가를 주당 $5.50로 발표하며, 총 $8.25 백만의 자금을 모집할 것으로 예상하고 있습니다. 주식은 2024년 11월 22일부터 나스닥 자본 시장에서 MSW의 상징으로 거래될 예정입니다. 회사는 인수자에게 45일 동안 225,000주 추가 매입 옵션을 부여했습니다. 모집 자금은 인력 확장, 은행 대출 상환, 장비 구매, ERP 시스템 조달, 운영 자본을 위해 사용될 것입니다. 이 공모는 2024년 11월 25일에 마감될 예정이며, Alexander Capital과 Revere Securities가 공동 북런너 역할을 합니다.
Ming Shing Group Holdings a annoncé le prix de son introduction en bourse de 1.500.000 actions ordinaires à 5,50 $ par action, espérant récolter 8,25 millions de dollars de produits bruts. Les actions seront négociées sur le Nasdaq Capital Market sous le symbole MSW à partir du 22 novembre 2024. La société a accordé aux souscripteurs une option d'achat de 225.000 actions supplémentaires valable 45 jours. Les produits seront destinés à l'expansion de la main-d'œuvre, au remboursement de prêts bancaires, à l'acquisition d'équipements, à la mise en place d'un système ERP et à du fonds de roulement. L'offre devrait se clôturer le 25 novembre 2024, avec Alexander Capital et Revere Securities en tant que co-organisateurs.
Ming Shing Group Holdings gab den Preis für sein öffentliches Angebot von 1.500.000 Stammaktien zu 5,50 $ pro Aktie bekannt und erwartet, 8,25 Millionen $ an Bruttoerlösen zu erzielen. Die Aktien werden ab dem 22. November 2024 an der Nasdaq Capital Market unter dem Symbol MSW gehandelt. Das Unternehmen gewährte den Underwritern eine 45-tägige Option, zusätzlich bis zu 225.000 Aktien zu erwerben. Die Erlöse werden zur Erweiterung der Belegschaft, zur Rückzahlung von Bankkrediten, zum Erwerb von Ausrüstungen, zur Beschaffung eines ERP-Systems und für das Betriebskapital verwendet. Das Angebot wird voraussichtlich am 25. November 2024 abgeschlossen, mit Alexander Capital und Revere Securities als gemeinsamen Buchführern.
- Successfully raised $8.25 million through IPO
- Secured Nasdaq Capital Market listing
- Underwriters granted 45-day option for additional shares worth 15% of offering
- Small offering size may limit market liquidity
- Significant portion of proceeds allocated to debt repayment rather than growth
- Potential dilution for future shareholders
Insights
Ming Shing's IPO pricing at
- Small float of only 1.5M shares could lead to high volatility
- Dual underwriter approach with Alexander Capital and Revere Securities suggests thorough market coverage
- Focus on infrastructure improvement and debt reduction indicates strategic growth planning
Hong Kong, Nov. 22, 2024 (GLOBE NEWSWIRE) -- Ming Shing Group Holdings Limited (the “Company” or “Ming Shing”) (NASDAQ: MSW), a Hong Kong-based company mainly engaged in wet trades works whose mission it is to become the leading wet trades works service provider in Hong Kong, today announced the pricing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares (“Shares”) at a public offering price of
The Company expects to receive aggregate gross proceeds of
The Company intends to use the net proceeds of the Offering for (i) expanding the Company’s workforce; (ii) repayment of bank borrowings and finance leases; (iii) acquiring additional equipment; (iv) procuring an enterprise resource planning system; and (v) general working capital purposes.
The Offering is expected to close on November 25, 2024, subject to the satisfaction of customary closing conditions.
Alexander Capital, L.P. (“Alexander”) is acting as the managing underwriter for the Offering, and Alexander and Revere Securities LLC (“Revere”), are acting as joint book-runners for the Offering. Nauth LPC is serving as counsel to the Company, and Sullivan & Worcester LLP and VCL Law LLP are serving as counsel to Alexander and Revere in connection with the Offering.
The Shares described above were offered by the Company pursuant to a registration statement on Form F-1, as amended (File Number: 333-281817), that was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on November 21, 2024. The Offering is being made only by means of a prospectus, forming a part of the effective registration statement. A copy of the final prospectus relating to the Offering, when available, may be obtained from Alexander Capital L.P., 10 Drs James Parker Boulevard #202, Red Bank, New Jersey 07701, Attention: Equity Capital Markets, or by calling (212) 687-5650 or emailing info@alexandercapitallp.com or by logging on to the SEC’s website at www.sec.gov.
Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more complete information about the Company and the Offering. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall such securities be offered or sold in the United States absent registration or an applicable exemption from registration, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offers, solicitations or sales would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. Any offers, solicitations, or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Securities Act of 1933, as amended.
About Ming Shing Group Holdings Limited
Ming Shing Group Holdings Limited is a Hong Kong-based company mainly engaged in wet trades works, such as plastering works, tile laying works, brick laying works, floor screeding works and marble works. With a mission to become the leading wet trades works services provider in Hong Kong, the Company strives to provide quality services that comply with its customers’ quality standards, requirements, and specifications. The Company conducts its business through its two wholly-owned Hong Kong operating subsidiaries, MS (HK) Engineering Limited and MS Engineering Co. Limited. MS (HK) Engineering Limited is a registered subcontractor and a registered specialist trade contractor under the Registered Specialist Trade Contractors Scheme of the Construction Industry Council and undertakes both private and public sector projects, while MS Engineering Co., Limited mainly focuses on private sector projects. For more information, please visit the Company’s website: https://ir.ms100.com.hk.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements, including, but not limited to, the Company's proposed Offering. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that may affect its financial condition, results of operations, business strategy and financial needs, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” or other similar expressions in this press release. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC.
For more information, please contact:
Ming Shing Group Holdings Limited
Investor Relations Department
Email: ir@ms100.com.hk
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
FAQ
What is Ming Shing Group's (MSW) IPO price per share?
How much did Ming Shing Group (MSW) raise in its IPO?
When will Ming Shing Group (MSW) begin trading on Nasdaq?
How will Ming Shing Group (MSW) use its IPO proceeds?
