Majestic Ideal Holdings, which provides supply chain management services to apparel companies in China, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The Hong Kong-based company plans to raise $17 million by offering 3.8 million shares (33% secondary) at a price range of $4 to $5. At the midpoint of the proposed range, Majestic Ideal Holdings would command a market value of $62 million.
Majestic Ideal provides supply chain management services in the apparel industry in China, with the company mainly handling yarn products and finished garments. The company offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, and raw material sourcing, among others, and its customers include brand owners, textile manufacturers, apparel sourcing agents, and online fashion and garment retailers.
Majestic Ideal Holdings was launched in 2013 and booked $17 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq under the symbol MJID. Univest Securities is the sole bookrunner on the deal.
