mF International, a Hong Kong-based trading platform provider, filed on Tuesday with the SEC to raise up to $8 million in an initial public offering.
The company plans to raise $8 million by offering 1.9 million shares (12% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, mF International would command a market value of $60 million.
Operating through three Hong Kong subsidiaries, principally m-FINANCE, mF International develops and provides financial trading solutions to customers via internet or SaaS platform. The company states that m-FINANCE's trading platform currently handles a monthly average transaction value of more than $100 billion. Substantially all of the company's operations are conducted in Hong Kong.
mF International was founded in 2002 and booked $4 million in revenue for the 12 months ended December 31, 2022. It plans to list on the Nasdaq but has not selected a symbol yet (RC ticker: MFI.RC). The company filed confidentially on December 30, 2022. Pacific Century Securities is the sole bookrunner on the deal.
