Masonglory, a Hong Kong-based subcontractor providing wet trades and other services, filed on Thursday with the SEC to raise up to $8 million in an initial public offering.
The company plans to raise $8 million by offering 1.5 million shares at a price range of $4 to $6. At the midpoint of the proposed range, Masonglory would command a market value of $70 million.
Through its operating subsidiary, Masonglory operates as a subcontractor in Hong Kong, providing wet trades services, such as plastering and tile laying, as well as other ancillary services. Its major customers are primarily main contractors of property development and civil engineering projects.
Masonglory was founded in 2018 and booked $21 million in revenue for the 12 months ended March 31, 2024. It plans to list on the Nasdaq under the symbol MSGY. The company filed confidentially on June 26, 2024. Benjamin Securities and EF Hutton are the joint bookrunners on the deal.
