J-Long Group, a Hong Kong-based distributor of reflective and non-reflective garment trims, raised $7 million by offering 1.4 million shares at $5, within the range of $4 to $6. The IPO float is just 4.5% of basic shares outstanding.
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 plans to list on the Nasdaq under the symbol JL. Eddid Securities and Futures acted as sole bookrunner on the deal.
