Gold bars to be exempt from tariffs, White House clarifies
Investing.com -- Majestic Ideal Holdings Limited (NASDAQ:MJID) began trading on the Nasdaq Capital Market Friday at $5.39 per share, falling below its initial public offering (IPO) price of $6.00 per share.
The apparel industry supply chain management services provider had priced its IPO at $6.00 per share on Thursday, offering 2,500,000 ordinary shares to the public.
Majestic Ideal plans to use the proceeds from the offering to procure raw materials for textile and garment manufacturing, expand its customer base, enhance its supply chain management capabilities, explore eco-friendly materials, and fund general working capital needs.
The company has granted its underwriters a 45-day option to purchase up to an additional 375,000 ordinary shares at the IPO price, less underwriting discounts.
Craft Capital Management, LLC and WestPark Capital, Inc. are serving as the representatives of the underwriters for the offering.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.