Masonglory Ltd. (MSGY) to Raise $8 Million in IPO

Masonglory Ltd. (MSGY) is planning to raise $8 million in an initial public offering on Wednesday, May 14th, IPO Scoop reports. The company plans to issue 1,500,000 shares at a price of $4.00-$6.00 per share.

In the last year, Masonglory Ltd. generated $20.6 million in revenue and $1.3 million in net income. The company has a market-cap of $70 million.

D. Boral Capital (ex-EF Hutton) acted as the underwriter for the IPO.

Masonglory Ltd. provided the following description of their company for its IPO: “We are the holding company of a wet trades (plastering, for example) subcontractor based in Hong Kong. (Incorporated in the Cayman Islands) Masonglory, through our operating subsidiary Masontech Limited, s a Hong Kong subcontractor that has been engaged in providing wet trades services such as plastering and tile laying as well as other ancillary services since 2018. Our clients are mostly major contractors involved in property development and civil engineering projects  in Hong Kong. As a subcontractor, we provide our customers with comprehensive wet trades work solutions, which principally include (i) plastering on floors, ceilings and walls, (ii) tile laying on internal and external walls and floors, (iii) brick laying, (iv) floor screeding, and (v) marble works. In recognition of our achievements in the wet trades industry in Hong Kong, our Operating Subsidiary has been granted registration as a Group 2 Registered Specialist Trade Contractor under the Registered Specialist Trade Contractors Scheme (formerly known as the Subcontractor Registration Scheme) of the Construction Industry Council since 2020. Note: Net income and revenue are for the fiscal year that ended March 31, 2024. (Note: Masonglory Ltd. filed its F-1 on Nov. 7, 2024, and disclosed the terms for its micro-cap IPO: 1.5 million shares at a price range of $4.00 to $6.00 to raise $7.5 million.) “.

Masonglory Ltd. was founded in 2018 and has 2 employees. The company is located at Room 8, 25/F, CRE Centre 889 Cheung Sha Wan Kowloon, Hong Kong and can be reached via phone at +852 2114 3424.