Ming Shing Group Holdings earned $27.6 million in revenue and $2.3 million in net income over the past year, with a market cap of $82.9 million.
Alexander Capital and Revere Securities were the underwriters for the IPO.
The company aims to be the top provider of wet trades services in Hong Kong, focusing on high-quality work. Established in 2022 in the Cayman Islands, Ming Shing operates through two subsidiaries in Hong Kong that specialize in tasks like plastering, tiling, and bricklaying. As a subcontractor, it has about a 0.4% market share in the industry.
As of August 2024, Ming Shing plans to launch an IPO with 1.5 million shares priced between $5.50 and $7.50, aiming to raise $9.75 million. The company had previously revised its IPO plans several times, adjusting share amounts and price ranges before ultimately withdrawing them on August 27, 2024.
Founded in 2012, Ming Shing Group employs 24 people and is located in Kowloon, Hong Kong.
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