Kandal M Venture shares rise 8.86% in premarket after completing $4.00 IPO and planning to expand into European market.

Kandal M Venture Limited surged 8.86% in premarket trading, following the completion of its IPO at $4.00 per share, issuing 2 million shares of Class A common stock and beginning trading on the Nasdaq on June 25. The company plans to use the net proceeds of $8 million to expand its customer base into the European market, enhance production capacity, and establish a new design development center. The company specializes in contract manufacturing in Cambodia, producing affordable luxury leather products such as handbags and wallets.