Kandal M Venture Limited Announces Full Exercise of Underwriters’ Over-Allotment Option
Kandal M Venture Limited (NASDAQ: FMFC), a contract manufacturer of luxury leather goods in Cambodia, announced the full exercise of the underwriters' over-allotment option for its IPO. The underwriters purchased an additional 300,000 Class A ordinary shares at $4.00 per share, generating extra gross proceeds of $1.2 million.
The total IPO size has now increased to 2,300,000 Class A ordinary shares with gross proceeds of $9.2 million. The company's shares began trading on the Nasdaq Capital Market on June 25, 2025. Proceeds will fund geographical expansion into European markets, enhance production capacity, establish a new design center, and provide working capital.
Kandal M Venture Limited (NASDAQ: FMFC), un produttore su contratto di articoli di pelletteria di lusso in Cambogia, ha annunciato l'esercizio completo dell'opzione di sovrassegnazione da parte degli underwriter per la sua IPO. Gli underwriter hanno acquistato ulteriori 300.000 azioni ordinarie di Classe A a 4,00 dollari per azione, generando un ricavo lordo aggiuntivo di 1,2 milioni di dollari.
La dimensione totale dell'IPO è ora aumentata a 2.300.000 azioni ordinarie di Classe A con ricavi lordi pari a 9,2 milioni di dollari. Le azioni della società hanno iniziato a essere negoziate sul Nasdaq Capital Market il 25 giugno 2025. I proventi saranno utilizzati per l'espansione geografica nei mercati europei, per migliorare la capacità produttiva, per istituire un nuovo centro design e per fornire capitale circolante.
Kandal M Venture Limited (NASDAQ: FMFC), un fabricante por contrato de artículos de cuero de lujo en Camboya, anunció el ejercicio total de la opción de sobreasignación de los suscriptores para su oferta pública inicial (IPO). Los suscriptores compraron 300,000 acciones ordinarias Clase A adicionales a 4,00 dólares por acción, generando ingresos brutos adicionales de 1,2 millones de dólares.
El tamaño total de la IPO ha aumentado ahora a 2,300,000 acciones ordinarias Clase A con ingresos brutos de 9,2 millones de dólares. Las acciones de la compañía comenzaron a cotizar en el Nasdaq Capital Market el 25 de junio de 2025. Los ingresos se destinarán a la expansión geográfica en mercados europeos, aumentar la capacidad de producción, establecer un nuevo centro de diseño y proporcionar capital de trabajo.
Kandal M Venture Limited (NASDAQ: FMFC)는 캄보디아의 명품 가죽 제품 위탁 제조업체로, IPO에 대한 인수단의 초과 배정 옵션을 전면 행사했다고 발표했습니다. 인수단은 주당 4.00달러에 300,000주 추가 클래스 A 보통주를 매입하여 120만 달러의 추가 총 수익을 창출했습니다.
총 IPO 규모는 이제 2,300,000주 클래스 A 보통주로 증가했으며 총 수익은 920만 달러입니다. 회사의 주식은 2025년 6월 25일 나스닥 캐피털 마켓에서 거래를 시작했습니다. 수익금은 유럽 시장으로의 지리적 확장, 생산 능력 향상, 신규 디자인 센터 설립 및 운전자본 확보에 사용될 예정입니다.
Kandal M Venture Limited (NASDAQ : FMFC), un fabricant sous contrat d’articles de maroquinerie de luxe au Cambodge, a annoncé l’exercice complet de l’option de surallocation des souscripteurs pour son introduction en bourse. Les souscripteurs ont acquis 300 000 actions ordinaires de classe A supplémentaires au prix de 4,00 dollars par action, générant des recettes brutes supplémentaires de 1,2 million de dollars.
La taille totale de l’introduction en bourse est désormais portée à 2 300 000 actions ordinaires de classe A pour des recettes brutes de 9,2 millions de dollars. Les actions de la société ont commencé à être négociées sur le Nasdaq Capital Market le 25 juin 2025. Les fonds seront utilisés pour l’expansion géographique vers les marchés européens, l’augmentation de la capacité de production, la création d’un nouveau centre de design et le financement du fonds de roulement.
Kandal M Venture Limited (NASDAQ: FMFC), ein Vertragshersteller von Luxuslederwaren in Kambodscha, gab die vollständige Ausübung der Mehrzuteilungsoption der Underwriter für seinen Börsengang bekannt. Die Underwriter kauften zusätzliche 300.000 Stammaktien der Klasse A zum Preis von 4,00 USD pro Aktie und erzielten damit zusätzliche Bruttoerlöse von 1,2 Millionen USD.
Die Gesamtgröße des Börsengangs wurde nun auf 2.300.000 Stammaktien der Klasse A mit Bruttoerlösen von 9,2 Millionen USD erhöht. Die Aktien des Unternehmens wurden am 25. Juni 2025 am Nasdaq Capital Market zum Handel zugelassen. Die Erlöse werden für die geografische Expansion in europäische Märkte, zur Steigerung der Produktionskapazität, zur Einrichtung eines neuen Designzentrums und zur Bereitstellung von Betriebskapital verwendet.
- Successfully completed IPO with full exercise of over-allotment option, indicating strong demand
- Total gross proceeds of $9.2 million to fund expansion and growth initiatives
- Strategic plans for European market expansion and production capacity enhancement
- Successful listing on Nasdaq Capital Market provides access to capital markets
- Relatively small IPO size may limit growth potential
- Geographic concentration risk with manufacturing solely in Cambodia
- Will face increased regulatory and compliance costs as a public company
Insights
Kandal M's IPO over-allotment exercise adds $1.2M to their capital raise, strengthening their expansion plans into European markets.
Kandal M Venture Limited has successfully completed its IPO process with the full exercise of the underwriters' over-allotment option, generating an additional
The successful execution of the greenshoe option (industry term for over-allotment) signals strong initial demand for Kandal M's shares, which began trading on the Nasdaq Capital Market on June 25th under the symbol "FMFC". This is a positive indicator for this newly public contract manufacturer of affordable luxury leather goods with operations in Cambodia.
The company has outlined a clear capital allocation strategy with proceeds earmarked for: (1) geographic expansion into European markets to diversify their customer base, (2) production capacity enhancements, (3) establishing a new design and development center to strengthen product development capabilities, and (4) working capital and general corporate purposes.
For a newly public company in the luxury goods manufacturing space, having a fully subscribed offering including the over-allotment option provides additional financial flexibility to execute their growth strategy. The successful completion of this financing step gives Kandal M the capital foundation to pursue their international expansion plans while developing their competitive capabilities in the affordable luxury leather goods market.
New York, July 16, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced that the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option in full to purchase an additional 300,000 Class A ordinary shares at the public offering price of
The Company intends to use the net proceeds for (i) broadening its customer base by expanding its geographical reach to other key markets, including the European markets, (ii) enhancing its production capacity, (iii) establishing a new design and development center for enhancing its product development capabilities, and (iv) additional working capital and other general corporate purposes.
The Offering was conducted on a firm commitment basis. Dominari Securities LLC acted as the representative of the underwriters, and Revere Securities LLC acted as the co-underwriter (collectively, the “Underwriters”) for the Offering. Loeb & Loeb LLP acted as U.S. legal counsel to the Company and The Crone Law Group, P.C. acted as legal counsel to the Underwriters for the Offering.
A registration statement on Form F-1 relating to the Offering has been filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-282786) and was declared effective by the SEC on June 23, 2025. The Offering was made only by means of a prospectus, forming a part of the registration statement, and a free writing prospectus. A final prospectus relating to the Offering was filed with the SEC on June 25, 2025, and is available on the SEC’s website at www.sec.gov. Alternatively, electronic copies of the final prospectus relating to this Offering may be obtained from Dominari Securities LLC by email at info@dominarisecurities.com, by standard mail to Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by telephone at +1 (212) 393-4500; or from Revere Securities LLC by email at contact@reveresecurities.com, by standard mail to Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY 10022, or by telephone at +1 (212) 688-2350. Before you invest, you should read the prospectus and other documents the Company has filed or will file with the SEC for more information about the Company and the Offering.
This press release has been prepared for informational purposes only and shall not constitute an offer to sell, or the solicitation of an offer to buy any of the Company’s securities, nor shall there be any offer, solicitation or sale of any of the Company’s securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.
About Kandal M Venture Limited
Kandal M Venture Limited is a contract manufacturer of affordable luxury leather goods with its manufacturing operations in Cambodia. Kandal M Venture Limited primarily manufactures handbags, such as shoulder bags, crossbody bags, tote bags, backpacks, top-handle handbags, satchels, and other smaller leather goods, such as wallets.
For more information, please visit the Company’s website at www.kandalmv.com.
Forward-Looking Statements
Certain statements in this announcement are forward-looking statements. These forward-looking statements involve known and unknown risks and uncertainties and are based on the Company’s current expectations and projections about future events that the Company believes may affect its financial condition, results of operations, business strategy and financial needs. The Company cautions investors that actual results may differ materially from the anticipated results, and encourages investors to read the risk factors contained in the Company’s final prospectus and other reports it files with the SEC before making any investment decisions regarding the Company’s securities. The Company undertakes no obligation to update or revise publicly any forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
Contacts
Company:
Kandal M Venture Limited Investor Relations Contact:
Padachi Village, Prek Ho Commune, Takhmao Town, Kandal Province,
Kingdom of Cambodia
Email: enquiry@fmfco.com.kh
Telephone: +855 23425205
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