Ming Shing Group Holdings (MSW) Plans to Raise $10 Million in July 9th IPO

Ming Shing Group Holdings (MSW) is planning to raise $10 million in an IPO on Tuesday, July 9th, IPO Scoop reports. The company plans to issue 1,500,000 shares at $5.50-$7.50 per share.

In the last year, Ming Shing Group Holdings generated $24.3 million in revenue and $1.9 million in net income. Ming Shing Group Holdings has a market-cap of $82.9 million.

R.F. Lafferty & Co. and Revere Securities served as the underwriters for the IPO.

Ming Shing Group Holdings provided the following description of their company for its IPO: “Our mission is to become the leading wet trades works services provider in Hong Kong. We strive to provide quality services that comply with our customers’ quality standards, requirements, and specifications. We are an exempted company incorporated under the laws of the Cayman Islands on August 2, 2022. As a holding company with no material operations of our own, we conduct our business through our wholly owned Hong Kong Operating Subsidiaries, MS (HK) Engineering Limited, and MS Engineering Co. Limited. We mainly engage in wet trades works, such as plastering works, tile laying works, brick laying works, floor screeding works and marble works. We are an established wet trade works subcontractor with, according to the Frost & Sullivan report, a market share of approximately 0.4% in 2021. 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.\ Note: Net income and revenue figures are in U.S. dollars for the 12 months that ended Sept. 30, 2023. (Note: Ming Shing Group Holdings added R.F. Lafferty & Co. as a joint book-runner, according to an F-1/A filing dated June 24, 2024. R.F. Lafferty & Co. will work with joint book-runner Revere Securities.) (Note: Ming Shing Group Holdings changed its price range to $5.50 to $7.50 – from $5.00 to $8.00 – and kept the number of shares at 1.5 million to raise $9.75 million, according to an F-1/A filing dated May 9, 2024. Background: Ming Shing Group Holdings updated Its IPO’s terms in an F-1/A filing on April 29, 2024: 1.5 million shares – up from 1.25 million shares previously – and set the price range at $5.00 to $8.00 – to raise $9.75 million.) (Note: Ming Shing Group Holdings slashed the size of its IPO by 66.7 percent to 1.25 million shares – down from 3.75 million shares – in an F-1/A filing dated March 28, 2024, which did not disclose a price range. Under its earlier F-1/A filings, Ming Shing Group disclosed that its stock would be offered at an assumed IPO price of $4.00. The Hong Kong-based company also disclosed in its March 28, 2024, filing that it has changed its sole book-runner to Revere Securities from Pacific Century Securities. Background: Ming Shing Group Holdings filed an F-1/A dated Sept. 22, 2023, in which it disclosed its proposed IPO stock symbol for its NASDAQ listing: MSW. Ming Shing Group filed its F-1 and disclosed terms for its IPO on June 23, 2023.)   “.

Ming Shing Group Holdings was founded in 2012 and has 24 employees. The company is located at 8/F, Cheong Tai Factory Building 16 Tai Yau Street San Po Kong, Kowloon Hong Kong and can be reached via phone at +852 2370 3788 or on the web at http://ms100.com.hk/.