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

Core Points - Kandal M Venture Limited has successfully completed its initial public offering (IPO), with underwriters exercising their over-allotment option to purchase an additional 300,000 Class A ordinary shares at $4.00 per share, resulting in gross proceeds of $1.2 million [1] - The total number of Class A ordinary shares sold in the IPO has increased to 2,300,000, with total gross proceeds reaching $9.2 million [1] - The Class A ordinary shares began trading on the Nasdaq Capital Market on June 25, 2025, under the symbol "FMFC" [1] Use of Proceeds - The net proceeds from the IPO will be utilized for expanding the customer base into key markets, particularly in Europe [1] - The company plans to enhance its production capacity and establish a new design and development center to improve product development capabilities [1] - Additional working capital and general corporate purposes will also be funded through the proceeds [1] 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 various types of handbags and smaller leather goods, including wallets [5]