Kandal M Venture Limited Announces Full Exercise of Underwriters' Over-Allotment Option

Core Viewpoint - Kandal M Venture Limited successfully completed its initial public offering, raising a total of $9.2 million after the underwriters exercised their over-allotment option, indicating strong market interest in the company's shares [1][2]. Group 1: Offering Details - The underwriters exercised their over-allotment option to purchase an additional 300,000 Class A ordinary shares at $4.00 per share, resulting in additional gross proceeds of $1.2 million [1]. - The total number of Class A ordinary shares sold in the offering increased to 2,300,000, with gross proceeds reaching $9.2 million before deductions [1]. - The Class A ordinary shares began trading on the Nasdaq Capital Market on June 25, 2025, under the symbol "FMFC" [1]. Group 2: Use of Proceeds - The company plans to use the net proceeds from the offering for several strategic initiatives, including expanding its customer base into European markets, enhancing production capacity, establishing a new design and development center, and for general corporate purposes [1]. Group 3: Company Overview - Kandal M Venture Limited is a contract manufacturer specializing in affordable luxury leather goods, with manufacturing operations based in Cambodia [5]. - The company primarily produces a variety of handbags and smaller leather goods, such as wallets [5].