Hong Kong restaurant group Man Sang Holdings (MB.US) IPO priced at US$4-5/share, raising US$9mn

Market IntelThursday, Nov 28, 2024 1:40 am ET

1min read

MasterBeef Group,MB.US,an operator of 12 Taiwanese hot pot and barbecue restaurants in Hong Kong,announced IPO terms on Wednesday.It plans to issue 2 million shares at $4 to $5 each,raising $9 million.The company's market capitalization would be $77 million at the midpoint of the proposed price range. MasterBeef is a full-service restaurant group in Hong Kong that specializes in Taiwanese hot pot and Taiwanese barbecue.It operates 12 restaurants under the "Master Beef" and "Anping Grill" brands through its operating subsidiaries. MasterBeef was founded in 2019 and had $67 million in revenue over the 12 months ended June 30,2024.The company plans to go public on the Nasdaq under the symbol MB.Revere Securities is the sole bookrunner for the deal.

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