Ming Shing Group Holdings, a Hong Kong-based construction subcontractor focused on wet trades services, filed and set terms on Friday with the SEC to raise up to $15 million in an initial public offering.
The company plans to raise $15 million by offering 3.75 million shares at a proposed price of $4. There it would command a market value of $60 million.
Ming Sheng Group mainly engages in wet trades works, such as plastering, tile laying, brick laying, floor screeding, and marble works. The group primarily focuses on residential and commercial developments.
The Hong Kong-based company was founded in 2012 and booked $21 million in revenue for the 12 months ended September 30, 2022. It plans to list on the Nasdaq, but has not yet selected a symbol (RC ticker: MSGH.RC). Pacific Century Securities is the sole bookrunner on the deal.
