Millennium Group International Holdings, a Hong Kong-based producer of paper packaging, raised $5 million by offering 1.3 million shares at $4, as expected.
The company has a market cap of less than $50 million at pricing. As a result, Millennium Group International Holdings will be excluded from Renaissance Capital's 2023 IPO stats.
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 engages in the production of paper-based inner packaging boxes and outer packaging boxes made of corrugated paperboards. The company's customers are primarily located in East Asia and Southeast Asia.
Millennium Group International Holdings plans to list on the Nasdaq under the symbol MGIH. Revere Securities and R.F. Lafferty & Co. acted as joint bookrunners on the deal.
