Masonglory Limited Announces Pricing of Its Initial Public Offering

Core Viewpoint - Masonglory Limited, a Hong Kong-based subcontractor, is set to launch its initial public offering (IPO) with 1,500,000 ordinary shares priced at $4.00 each, aiming to raise approximately $6 million in gross proceeds [1]. Group 1: Offering Details - The IPO is expected to commence trading on the Nasdaq Capital Market under the ticker symbol "MSGY" on July 8, 2025, with the offering closing on July 9, 2025, pending customary closing conditions [1]. - An over-allotment option allows underwriters to purchase an additional 225,000 shares within 45 days of the offering's closing date [1]. - The net proceeds from the offering will be allocated as follows: 15% for expanding the workforce, 15% for acquiring additional machinery, 15% for diversifying the project portfolio, 15% for strengthening marketing efforts, and 40% for working capital and general corporate purposes [1]. Group 2: Company Background - Masonglory Limited was founded in 2018 and specializes in wet trades services for property developers and the Hong Kong government [4]. - The company is a registered specialist trade contractor since 2020, providing comprehensive solutions including plastering, tile laying, brick laying, floor screeding, and marble works [4].