J-Long Group, a Hong Kong-based distributor of reflective and non-reflective garment trims, announced terms for its IPO on Thursday.
The company plans to raise $7 million by offering 1.4 million shares at a price range of $4 to $6. At the midpoint of the proposed range, J-Long Group would command a market value of $157 million.
Operating through subsidiary JLHK, the company distributes reflective and non-reflective garment trims including heat transfers, fabrics, woven labels and tapes, sewing badges, piping, zipper pullers, and drawcords, among others. J-Long states that it has served over 100 international brands globally, and has a 25+ year working relationship with a leading US multinational conglomerate. The customer is J-Long's primary supplier of materials, and J-Long been its authorized distributor of 3M Scotchlite reflective materials since 2000.
J-Long Group was founded in 1985 and booked $38 million in sales for the 12 months ended March 31, 2023. It plans to list on the Nasdaq under the symbol JL. Eddid Securities and Futures is the sole bookrunner on the deal.
