MasterBeef Group, which operates 12 Taiwanese hotpot and barbecue restaurants in Hong Kong, announced terms for its IPO on Wednesday.
The Hong Kong-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, MasterBeef Group would command a market value of $77 million.
MasterBeef is a full-service restaurant group in Hong Kong, specializing in Taiwanese hotpot and Taiwanese barbecue. Through its operating aubsidiaries, the company operates 12 restaurant outlets under the brands "Master Beef" and "Anping Grill."
MasterBeef Group was founded in 2019 and booked $67 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol MB. Revere Securities is the sole bookrunner on the deal.
