JM Group, a Hong Kong-based merchandise sourcing provider, raised $15 million by offering 3.8 million shares at $4, the low end of the range of $4 to $5. At pricing, the company commands a market cap of $79 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.
JM Group plans to list on the NYSE American under the symbol JMG. Webull Financial and Prime Number Capital acted as joint bookrunners on the deal.
