Millennium Group International Holdings, a Hong Kong-based producer of paper packaging, filed on Friday with the SEC to raise up to $23 million in an initial public offering.
The company plans to raise $23 million by offering 5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Millennium Group International Holdings would command a market cap of $90 million.
Founded in 1978, Millennium Group operates in China and Vietnam, with two production facilities in Guangdong, China, and a supply chain services unit in Vietnam. The company, which originally sold corrugated paper, now engages in publication printing for the production of books, magazines, and newspapers, printing for packaging materials, and commercial printing. The company's customers are primarily located in East Asia and Southeast Asia.
The company was founded in 1978 and booked $66 million in revenue for the 12 months ended June 30, 2022. It plans to list on the Nasdaq under the symbol MGIH. Millennium Group International Holdings filed confidentially on February 1, 2022. Network 1 Financial Securities is the sole bookrunner on the deal.
