Empro Group, a Malaysia-based producer and distributor of surgical face masks and cosmetics, announced terms for its IPO on Wednesday.
The Shah Alam, Malaysia-based company plans to raise $5 million by offering 1.3 million shares at a price range of $4.00 to $4.50. At the midpoint of the proposed range, Empro Group would command a market value of $34 million.
Because the company is expected to have a market cap of less than $50 million at IPO, Empro Group will be excluded from Renaissance Capital's 2025 IPO stats.
The company produces and distributes health care products, as well as a variety of cosmetic and skincare products. Originally focused on cosmetics such as eyebrow pencils, it began producing surgical face masks, Covid-19 test kits, and related products upon the outbreak of the Covid-19 pandemic. The company retails its products through its website, its five physical outlets, and through third-party retailers.
Empro Group was founded in 2005 and booked $3 million in revenue for the 12 months ended June 30, 2024. It plans to list on the Nasdaq under the symbol EMPG. R.F. Lafferty & Co. is the sole bookrunner on the deal.
