Masonglory Limited Announces Closing of the Underwriter’s Over-Allotment Option in Connection with its Initial Public Offering

Rhea-AI Summary

Masonglory Limited (MSGY), a Hong Kong-based wet trades subcontractor, has successfully closed its IPO over-allotment option with the sale of 225,000 additional ordinary shares at $4.00 per share. This exercise generated additional gross proceeds of $900,000, supplementing the initial IPO proceeds of $6,000,000.

The firm commitment offering was underwritten by D. Boral Capital LLC, with legal representation from CFN Lawyers LLC for Masonglory and Loeb & Loeb LLP for the underwriter. The company's F-1 registration statement was declared effective by the SEC on June 30, 2025.

Positive

• None.

Negative

• Proceeds will be reduced by underwriting discounts and offering expenses

Insights

Capital Markets Analyst

MSGY's IPO over-allotment exercise adds $900K to its $6M raise, indicating strong initial investor demand.

Masonglory Limited (MSGY) has successfully completed its capital raising efforts with the full exercise of the underwriter's over-allotment option, bringing in an additional $900,000 beyond their initial $6,000,000 IPO proceeds. The exercise of this option—commonly known as a greenshoe—is typically a positive signal that indicates strong initial investor demand for the company's shares, as it allows underwriters to sell additional shares when demand exceeds initial supply.

The Hong Kong-based wet trades subcontractor priced its shares at $4.00 each, with D. Boral Capital serving as the sole underwriter on a firm commitment basis—meaning the underwriter purchased all offered shares outright, reducing MSGY's capital raising risk. This structure provided certainty of funds compared to a best-efforts offering, where success isn't guaranteed.

For a company in the construction subcontracting sector, this $6.9 million total capital infusion (before deducting underwriting discounts and expenses) should strengthen MSGY's balance sheet and potentially fund operational expansion. As a newly public company providing wet trades services—which typically include concreting, plastering, brick laying, and tile work—MSGY will now face the accountability and reporting requirements that come with public listing, while benefiting from improved access to capital markets for future growth initiatives.

Hong Kong, July 24, 2025 (GLOBE NEWSWIRE) -- Masonglory Limited (the “Company” or “MSGY”), a Hong Kong based subcontractor providing wet trades and related ancillary services to private and public sectors, today announced that it closed the sale of an additional 225,000 ordinary shares of the Company, pursuant to the full exercise of the underwriter’s over-allotment option granted in connection with the Company’s initial public offering (“IPO”, together with such over-allotment closing, the “Offering”), at the IPO price of $4.00 per share, less underwriting discounts. As a result, the Company has raised gross proceeds of $900,000 in addition to the previously announced IPO gross proceeds of $6,000,000, before deducting underwriting discounts and offering expenses.

The Offering was conducted on a firm commitment basis. D. Boral Capital LLC (the “Underwriter”) acted as the sole underwriter for the Offering. CFN Lawyers LLC acted as U.S. counsel to the Company, and Loeb & Loeb LLP acted as U.S. counsel to the Underwriter, in connection with the Offering.

A registration statement on Form F-1 (File No. 333-283046) relating to the Offering, as amended, has been filed with the U.S. Securities and Exchange Commission (the "SEC") and was declared effective by the SEC on June 30, 2025. The Offering is being made only by means of a prospectus. Copies of the final prospectus related to the Offering may be obtained, when available, from D. Boral Capital LLC by standard mail to D. Boral Capital LLC, 590 Madison Avenue, 39th Floor, New York, NY 10022, or via email at dbccapitalmarkets@dboralcapital.com or by telephone at +1 (212) 970-5150. In addition, a copy of the final prospectus can also 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 shall not constitute an offer to sell or the solicitation of an offer to buy the securities described herein, nor shall there be any sale of these 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 any such state or jurisdiction.

About Masonglory Limited

Founded in 2018 in Hong Kong, Masonglory Limited is a subcontractor providing wet trades services and other ancillary services to property developers and Hong Kong government. As a registered specialist trade contractor (plastering-group 2) since 2020, the Company provides customers with comprehensive wet trades works solutions, which principally include: (i) plastering on floors, ceilings, and walls; (ii) tile laying on internal and external walls and floors; (iii) brick laying; (iv) floor screeding; and (v) marble works. For more information, please visit: https://www.masontech.com.hk/; https://ir.masontech.com.hk/

Forward-Looking Statement

This press release contains forward-looking statements. Forward-looking statements include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements that are other than statements of historical facts. When the Company uses words such as "may, "will, "intend," "should," "believe," "expect," "anticipate," "project," "estimate" or similar expressions that do not relate solely to historical matters, it is making forward-looking statements. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause actual results to differ materially from the Company's expectations discussed in the forward-looking statements. These forward-looking 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. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Additional factors are discussed in the Company's filings with the SEC, which are available for review at www.sec.gov. The Company undertakes no obligation to publicly revise these forward-looking statements to reflect events or circumstances that arise after the date hereof.

For more information, please contact:

Investor Relations
WFS Investor Relations Inc.
Janice Wang, Managing Partner
Email: services@wealthfsllc.com
Phone: +1 628 283 9214

FAQ

How much did Masonglory Limited (MSGY) raise in its IPO over-allotment option?

Masonglory raised $900,000 in gross proceeds through the sale of 225,000 additional ordinary shares at $4.00 per share in its over-allotment option.

What is the total amount raised by MSGY in its IPO including the over-allotment?

MSGY raised a total of $6.9 million in gross proceeds, comprising $6 million from the initial IPO and $900,000 from the over-allotment option.

Who was the underwriter for Masonglory's IPO?

D. Boral Capital LLC acted as the sole underwriter for the offering on a firm commitment basis.

When was Masonglory's IPO registration statement declared effective by the SEC?

The SEC declared MSGY's F-1 registration statement effective on June 30, 2025.

What is Masonglory Limited's main business?

Masonglory Limited is a Hong Kong-based subcontractor that provides wet trades and related ancillary services to private and public sectors.