Intel stock extends gains after report of possible U.S. government stake
HONG KONG - Mega Fortune Company Limited announced Thursday the completion of its initial public offering (IPO), raising $15 million by selling 3,750,000 ordinary shares at $4.00 per share.
The Hong Kong-based Internet of Things (IoT) solution provider began trading on the Nasdaq Capital Market on Wednesday under the ticker symbol "NASDAQ:MGRT," according to a company press release.
D. Boral Capital LLC served as the sole book-running manager for the offering, which was conducted on a firm commitment basis. The underwriter has been granted a 45-day option to purchase up to an additional 562,500 ordinary shares at the public offering price, less underwriting discounts.
Mega Fortune operates through its subsidiary QBS System Limited, providing IoT integration solutions, maintenance and support services, business process outsourcing, and trading sales across various industries. The company generated revenue of $3.33 million in the last twelve months, maintaining a healthy gross profit margin of 53.91% and a current ratio of 1.71, according to InvestingPro data.
The company filed its registration statement with the U.S. Securities and Exchange Commission, which was declared effective on June 30, 2025. FisherBroyles, LLP acted as U.S. securities counsel to Mega Fortune, while Jun He Law Offices LLC represented D. Boral Capital.
The final prospectus for the offering was filed with the SEC on July 16, 2025. The company states its vision is to become the preferred choice for IoT solutions for enterprises and projects in the Asia-Pacific region.
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