Kandal M Venture Lists on Nasdaq, Raises $8 Million in IPO

Kandal M Venture Limited, a contract manufacturer of luxury leather goods, has priced its initial public offering of 2 million Class A ordinary shares at $4.00 per share. The shares will list on the Nasdaq Capital Market under the symbol "FMFC". The company plans to use the net proceeds for expanding its customer base, enhancing production capacity, establishing a new design center, and additional working capital. The offering is expected to close on June 26, 2025.

Kandal M Venture Limited, a Cambodia-based contract manufacturer of affordable luxury leather goods, has priced its initial public offering (IPO) of 2 million Class A ordinary shares at $4.00 per share. The shares will be listed on the Nasdaq Capital Market under the symbol "FMFC" [1].

The company plans to use the net proceeds from the offering to expand its customer base, enhance production capacity, establish a new design center, and provide additional working capital. The IPO is expected to close on June 26, 2025 [1].

Kandal M Venture Limited operates through its subsidiary, FMF, and primarily manufactures handbags and smaller leather goods for well-known global fashion brands headquartered in the United States. The company's manufacturing operations are based in Cambodia [1].

The IPO is being led by Dominari Securities and Revere Securities, who acted as joint bookrunners on the deal [2]. The company has filed to go public with an IPO on the NASDAQ [1].

References:
[1] https://stockanalysis.com/stocks/fmfc/
[2] https://www.renaissancecapital.com/IPO-Center/News/111734/Cambodian-leather-goods-manufacturer-Kandal-M-Venture-prices-US-IPO-at-the-