Mint Incorporation Limited completes $8.05 million IPO

HONG KONG - Mint Incorporation Limited (NASDAQ:MIMI), a provider of interior design and fit-out services, announced the conclusion of its initial public offering (IPO) on Monday. The Hong Kong-based company offered 1,750,000 Class A ordinary shares at $4.00 each, with trading beginning on the Nasdaq Capital Market on January 10, 2025. According to InvestingPro data, the stock has since risen to $4.28, though analysis suggests the shares may be trading above their Fair Value.

Additionally, the underwriters exercised a 45-day over-allotment option in full, purchasing an extra 262,500 shares at the same offering price. This brought the total gross proceeds to approximately $8.05 million before underwriting discounts and other expenses were deducted. The company maintains strong financial health with a current ratio of 2.26, indicating solid liquidity to meet short-term obligations.

The funds raised are earmarked for a variety of strategic initiatives, including expanding the company's operational scale and geographic reach into markets such as the United States and the United Kingdom (TADAWUL:4280), as well as potential strategic investments and acquisitions. Upgrading IT services, working capital, and other general corporate purposes are also on the agenda.

The offering was managed on a firm commitment basis by Benjamin Securities, Inc. as the lead underwriter, with Prime Number Capital, LLC serving as the co-underwriter. Legal counsel for Mint Incorporation Limited was provided by Ortoli Rosenstadt LLP, while Jun He Law Offices LLC represented the underwriters.

This IPO follows the effective declaration of the company's registration statement by the U.S. Securities and Exchange Commission (SEC) on December 20, 2024, and the filing of a final prospectus on January 10, 2025. The prospectus is available on the SEC’s website.

Mint Incorporation Limited specializes in interior design and fit-out works for commercial properties, including offices, retail stores, and luxury residential properties, aiming to reflect the corporate values and brands of its customers. The company has demonstrated impressive growth, with revenue increasing by nearly 64% in the last twelve months. InvestingPro subscribers can access additional insights, including exclusive ProTips and detailed financial metrics that help evaluate the company's growth trajectory and market position.

The company's announcement also included a standard caution regarding forward-looking statements, reminding investors that such statements are subject to risks and uncertainties and that actual results may differ materially from those projected.

This news article is based on a press release statement from Mint Incorporation Limited.

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