Majestic Ideal Holdings raises $15mln in IPO at $6 per share.

Majestic Ideal Holdings Limited has closed its initial public offering, selling 2,500,000 ordinary shares at $6.00 per share, raising $15 million in gross proceeds. The company plans to use the funds to procure raw materials, broaden its customer base, enhance efficiency and SCM service capabilities, and fund general working capital needs.

Majestic Ideal Holdings Limited (MJID) has successfully closed its initial public offering (IPO), selling 2,500,000 ordinary shares at $6.00 per share, raising $15 million in gross proceeds. The company, which provides supply chain management (SCM) services to the apparel industry, will use the funds to procure raw materials, broaden its customer base, enhance efficiency and SCM service capabilities, and fund general working capital needs [1].

The IPO offering consisted of 2.5 million ordinary shares, with an additional option for underwriters to purchase up to 375,000 shares at the same price, less underwriting discounts. The offering is expected to close on July 21, 2025, subject to customary closing conditions [1].

The proceeds from the IPO will be used to procure raw materials used in textile and garment manufacturing, to broaden the customer base and develop new customers, to enhance efficiency and SCM service capabilities, to explore and introduce eco-friendly and sustainable raw materials, and to fund general working capital needs [1].

Majestic Ideal Holdings Limited provides a one-stop solution for its customers, encompassing market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management. The company's services are tailored to meet the unique needs of its customers in the apparel industry [2].

Despite facing regulatory challenges, such as concerns raised by its auditor about the company's "going concern" status in January 2024, Majestic Ideal Holdings has successfully navigated the regulatory process and completed its IPO. This marks a significant milestone for the company, demonstrating resilience and a commitment to growth [1].

References:

[1] https://www.ainvest.com/news/majestic-ideal-holdings-announces-15-million-ipo-pricing-listing-nasdaq-2507/
[2] https://www.marketscreener.com/news/majestic-ideal-holdings-limited-announced-closing-of-initial-public-offering-ce7c5cddd98ef521