MPJS Group, which operates five jewelry stores in Hong Kong, filed on Wednesday with the SEC to raise up to $7 million in an initial public offering.
The Hong Kong-based company plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, MPJS Group would command a market value of $135 million.
Through its operating subsidiaries, the company has five retail stores located in densely populated areas or community shopping malls close to residential, industrial, or commercial areas across different regions in Hong Kong. Its product portfolio caters to the mid-end market targeting middle-income customers with a wide range of items. MPJS also engages in the trading of recycled gold products.
MPJS Group was founded in 2010 and booked $14 million in sales for the 12 months ended October 31, 2024. It plans to list on the Nasdaq under the symbol MPJS. Revere Securities is the sole bookrunner on the deal.
