MASTERBEEF GROUP Announces Pricing of US$8.0 Million Initial Public Offering

Rhea-AI Summary

MasterBeef Group, a Hong Kong-based restaurant group specializing in Taiwanese hotpot and barbecue, has announced the pricing of its Initial Public Offering (IPO) at US$4.00 per ordinary share. The company is offering 2,000,000 ordinary shares to raise US$8.0 million in gross proceeds.

Trading will commence on April 10, 2025, on the Nasdaq Capital Market under the symbol 'MB'. The company has granted underwriters a 45-day option to purchase up to 300,000 additional shares. Additionally, 1,815,000 ordinary shares are being registered for potential resale by existing shareholders.

The IPO proceeds will fund:

• Restaurant network expansion in Hong Kong and Southeast Asia
• Marketing and branding campaigns
• Semi-finished food products production
• Technology solutions and IT systems upgrades
• General corporate development

Positive

• IPO raising US$8.0 million in gross proceeds
• Nasdaq Capital Market listing provides access to broader investor base
• Clear expansion strategy into Southeast Asian markets
• Diversification into semi-finished food products production
• Investment in technology solutions for operational efficiency

Negative

• Significant shareholder dilution with 2,000,000 new shares
• Additional potential dilution from 300,000 underwriter option shares
• 1,815,000 shares registered for resale by existing shareholders may pressure stock price
• No guaranteed success in new market expansion
• Competitive restaurant industry with high operational costs

Insights

IPO & Capital Markets Specialist

MasterBeef Group's $8 million IPO represents a significant milestone as the Hong Kong-based restaurant chain transitions to public markets, though the offering size is relatively modest compared to typical restaurant industry listings. Priced at $4.00 per share with 2 million shares offered, the company has gained Nasdaq Capital Market access under ticker symbol "MB".

The capital allocation strategy appears diversified across multiple growth initiatives. The company plans to deploy proceeds toward physical expansion in Hong Kong and Southeast Asian markets, marketing campaigns, development of consumer packaged goods (hotpot soup base and marinated food products), and technology infrastructure upgrades.

Worth noting is the concurrent registration of 1.815 million shares from existing shareholders for potential resale. This nearly equals the IPO volume and could create selling pressure if these holders exit positions post-IPO. The firm commitment underwriting structure (versus best-efforts) provides greater certainty around the capital raise.

The expansion strategy targeting Singapore and other Southeast Asian markets signals regional ambitions, while the planned entry into packaged food products represents a potential higher-margin revenue stream that could complement the core restaurant operations. The technology investments in table service and inventory management systems suggest a focus on operational efficiency in a traditionally labor-intensive industry.

While the IPO provides MasterBeef with capital for these growth initiatives, the relatively small raise size may limit the scope and pace of expansion, particularly for international growth which typically requires substantial investment. The company would likely need to demonstrate strong unit economics and growth metrics to access additional capital markets funding for its full strategic vision.

Hong Kong, April 10, 2025 (GLOBE NEWSWIRE) -- MasterBeef Group (the “Company”), a full-service restaurant group in Hong Kong, specializing in Taiwanese hotpot and Taiwanese barbecue, today announced the pricing of its initial public offering (the “Offering”) of 2,000,000 ordinary shares, par value US$0.0005 per share, at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 10, 2025 under the ticker symbol “MB”. The Company is also registering an aggregate of 1,815,000 ordinary shares for the potential resale by certain shareholders of the Company. These shares will not be underwritten by the underwriters and the Company will not receive any proceeds from the sale of the shares held by these resale shareholders.

The Company expects to receive aggregate gross proceeds of US$8.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 11, 2025, subject to the satisfaction of customary closing conditions.

Net proceeds from the Offering will be used for (i) the expansion of its restaurant network through the establishment of new restaurant outlets and its franchising endeavors in Hong Kong and overseas including Singapore and other Southeast Asian countries; (ii) its marketing and branding campaigns, including marketing and promotional activities to further expand its customer base and strengthen its brands; (iii) the production and sale of semi-finished food products such as packaged hotpot soup base and marinated food products; (iv) the investment in technology solutions for table service, inventory management and order processing, and the upgrade of the IT systems in its restaurant outlets; and (v) general corporate purposes that are beneficial in developing the business and its strategic direction.

The Offering is being conducted on a firm commitment basis. Dominari Securities LLC is acting as the lead underwriter for the Offering and Revere Securities LLC is acting as a co-underwriter. Schlueter & Associates, P.C. is acting as U.S. securities counsel to the Company, and Hunter Taubman Fischer & Li LLC is acting as U.S. securities counsel to the underwriters in connection with the Offering.

A registration statement on Form F-1 relating to the Offering was filed with the U.S. Securities and Exchange Commission (the “SEC”) (File Number: 333-283142) and was declared effective by the SEC on March 31, 2025. The Offering is being made only by means of a prospectus, forming a part of the registration statement. Copies of the final prospectus relating to the Offering may be obtained, when available, from Dominari Securities LLC, 725 Fifth Avenue, 23rd Floor, New York, NY 10022, or by email at investmentbanking@dominarisecurities.com, or by telephone at (212) 393-4500, or Revere Securities LLC, 560 Lexington Avenue, 16th Floor, New York, NY 10022, or by email at contact@reveresecurities.com, or by telephone at (212) 688-2350. In addition, copies of the prospectus relating to the Offering may be obtained via the SEC’s website at www.sec.gov.

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 does 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 MasterBeef Group

MasterBeef Group is a full-service restaurant group in Hong Kong, specializing in Taiwanese hotpot and Taiwanese barbecue. The Company, through its Hong Kong Operating Subsidiaries, operates 12 restaurant outlets under the Master Beef and Anping Grill brands. For more information, please visit the Company’s website: masterbeefgroup.com.

Forward-Looking Statements

Certain statements in this press release are forward-looking statements, including, but not limited to, the Company’s proposed Offering. 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, including the expectation that the Offering will be successfully completed. Investors can find many (but not all) of these statements by the use of words such as “approximates,” “believes,” “hopes,” “expects,” “anticipates,” “estimates,” “projects,” “intends,” “plans,” “will,” “would,” “should,” “could,” “may” or other similar expressions in this press release. 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. These statements are subject to uncertainties and risks, including, but not limited to, the uncertainties related to market conditions, and other factors discussed in the “Risk Factors” section of the Registration Statement filed with the SEC. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results in the Company’s registration statement and other filings with the SEC. Additional factors are discussed in the Company’s filings with the SEC, which are available for review at www.sec.gov.

For more information, please contact:

MasterBeef Group

Email: ir@masterbeefgroup.com

FAQ

What is the IPO price and size for MasterBeef Group (MB) stock?

MasterBeef Group's IPO is priced at US$4.00 per share for 2,000,000 ordinary shares, raising US$8.0 million in gross proceeds.

When will MasterBeef Group (MB) start trading on Nasdaq?

MasterBeef Group will begin trading on the Nasdaq Capital Market on April 10, 2025, under the ticker symbol 'MB'.

How will MasterBeef Group use its IPO proceeds?

The proceeds will fund restaurant expansion, marketing campaigns, semi-finished food production, technology upgrades, and general corporate development.

How many additional shares can underwriters purchase in MasterBeef Group's IPO?

Underwriters have a 45-day option to purchase up to 300,000 additional ordinary shares at the public offering price.

What is the geographic expansion plan for MasterBeef Group (MB)?

MasterBeef Group plans to expand its restaurant network in Hong Kong and overseas markets, including Singapore and other Southeast Asian countries.