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Charming Medical Limited (MCTA) completed its initial public offering of 1,600,000 Class A ordinary shares at $4.00 per share, generating gross proceeds of $6.4 million before fees and expenses, according to a company statement.
The Hong Kong-based provider of Traditional Chinese Medicine-inspired therapies began trading on the Nasdaq Capital Market on October 21, 2025. The company plans to use net proceeds for business expansion, geographic coverage growth, potential strategic investments and acquisitions, research and development, and general working capital.
Charming Medical granted underwriters an over-allotment option to purchase up to 240,000 additional shares at the offering price, representing 15% of the shares sold. If exercised in full within 45 days, the option would increase gross proceeds to approximately $7.36 million before deducting fees.
Cathay Securities, Inc. served as the representative of the underwriters for the offering, which was conducted on a firm commitment basis. The offering was made pursuant to the company’s registration statement on Form F-1, declared effective by the Securities and Exchange Commission on September 30, 2025.
The company operates four wellness centers in Hong Kong, offering services including womb-warming therapy, pelvic detox therapy, moxibustion, prenatal massage, and traditional abdominal binding for women’s health issues. Under its "Beauty Lab" brand, Charming Medical develops and distributes TCM-inspired supplements and beauty products such as uterine care patches, probiotic washes, and herbal formulations.
The company also provides technical training, dietary therapy consultancy, and franchise opportunities to extend its wellness services to other practitioners and entrepreneurs.