Majestic Ideal Holdings, which provides supply chain management services to apparel companies in China, raised $15 million by offering 2.5 million shares at $6, the low end of the range of $6 to $7.
Majestic Ideal provides supply chain management services in the apparel industry in China, with the company mainly handling yarn products and finished garments. The company offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, and raw material sourcing, among others, and its customers include brand owners, textile manufacturers, apparel sourcing agents, and online fashion and garment retailers.
Majestic Ideal Holdings plans to list on the Nasdaq under the symbol MJID. Craft Capital Management and WestPark Capital acted as joint bookrunners on the deal.
