JM Group, a Hong Kong-based merchandise sourcing provider, filed on Wednesday with the SEC to raise up to $17 million in an initial public offering.
The company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, JM Group would command a market value of $89 million.
JM Group sources and wholesales a wide range of merchandise for retailers, distributors, and brand owners, spanning categories such as sports and outdoors, toys and games, and clothing, among others. Its supplying manufacturers are primarily located in mainland China, but the company serves customers across Australia, Hong Kong, Mexico, and the US.
The primary shareholder is Stanley Ting with a 41% post-IPO stake.
JM Group was founded in 2016 and booked $31 million in sales for the 12 months ended March 31, 2025. It plans to list on the NYSE American but has not selected a symbol yet (RC ticker: JMGG.RC). Prime Number Capital is the sole bookrunner on the deal.
