Masonglory Limited Announces Pricing of Its Initial Public Offering

Rhea-AI Summary

Masonglory Limited (NASDAQ:MSGY), a Hong Kong-based subcontractor specializing in wet trades and related ancillary services, has announced the pricing of its initial public offering of 1.5 million ordinary shares at $4.00 per share.

The company expects to raise gross proceeds of approximately $6 million before deducting underwriting costs. Trading is set to begin on July 8, 2025, under the symbol "MSGY" on the Nasdaq Capital Market. The underwriters have a 45-day option to purchase up to 225,000 additional shares.

The net proceeds will be allocated across five key areas: 15% each for workforce expansion, machinery acquisition, project portfolio diversification, and marketing efforts, with the remaining 40% designated for working capital and general corporate purposes.

Positive

• IPO will raise $6 million in gross proceeds to fund growth initiatives
• Clear allocation strategy for proceeds with 60% dedicated to business expansion
• Listing on major exchange (Nasdaq) provides increased visibility and access to capital markets
• 45-day over-allotment option could provide additional capital if exercised

Negative

• Relatively small IPO size may limit institutional investor interest
• Concentrated geographic exposure in Hong Kong market
• Potential dilution for existing shareholders
• High percentage (40%) allocated to working capital suggests possible cash flow needs

Insights

Financial Analyst

Masonglory's $6M IPO provides modest capital for a Hong Kong construction subcontractor with a balanced allocation strategy across growth initiatives.

Masonglory Limited has priced its IPO at $4.00 per share, raising $6 million in gross proceeds before underwriting discounts and expenses. This relatively small offering of 1,500,000 ordinary shares provides the Hong Kong-based wet trades subcontractor with modest capital as it enters the public markets on the Nasdaq Capital Market under ticker MSGY.

The company has structured a balanced capital allocation strategy, dividing proceeds between workforce expansion (15%), machinery acquisition (15%), project portfolio diversification (15%), and marketing enhancement (15%), with the largest portion (40%) reserved for working capital and general corporate purposes. This approach suggests a measured growth strategy rather than an aggressive expansion.

The IPO includes a 45-day over-allotment option for underwriters to purchase an additional 225,000 shares, potentially increasing proceeds by $900,000. D. Boral Capital is serving as the sole underwriter on a firm commitment basis, meaning they've guaranteed the full purchase of offered shares, reducing the company's capital raising risk.

For a construction subcontractor, this capital raise represents an opportunity to scale operations while maintaining financial flexibility through the substantial working capital allocation. The equal distribution among growth initiatives indicates a diversified approach to business development rather than overcommitment to any single growth vector.

Hong Kong, July 07, 2025 (GLOBE NEWSWIRE) -- Masonglory Limited (the “Company”), is a Hong Kong based subcontractor providing wet trades and related ancillary services to private and public sectors, today announced the pricing of its initial public offering (the “Offering”) of 1,500,000 ordinary shares (the “Ordinary Shares”) at a public offering price of $4.00 per share. The Company expects to receive aggregate gross proceeds of approximately $6 million, before deducting underwriting discounts and other offering expenses. The Ordinary Shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on July 8, 2025 under the ticker symbol “MSGY”. The Offering is expected to close on July 9, 2025, subject to the satisfaction of customary closing conditions. In addition, the Company has granted the underwriters an option (the “Over-Allotment Option”), within 45 days from the closing date of the Offering, to purchase up to an additional 225,000 Ordinary Shares at the public offering price, less underwriting discounts, to cover the Over-Allotment Option, if any.

The net proceeds from the Offering will be used for (i) expanding its workforce (approximately 15%); (ii) acquisition of additional machineries (approximately 15%); (iii) diversifying our project portfolio (approximately 15%); (iv) strengthening its marketing efforts (approximately 15%) and (v) funding working capital and for other general corporate purposes (approximately 40%).

The Offering is being conducted on a firm commitment basis. D. Boral Capital LLC is acting as sole underwriter for the Offering. CFN Lawyers LLC is acting as U.S. counsel to the Company, and Loeb & Loeb LLP is acting 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, forming a part of the registration statement. Copies of the 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, copies of the final prospectus relating to the Offering, when available, 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 has been prepared for informational purposes only and 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. These forward-looking statements include, without limitation, the Company’s statements regarding the expected trading of its Ordinary Shares on the Nasdaq Capital Market and the closing of the Offering. Forward-looking statements are not guarantees of future performance and involve risks and uncertainties that may cause the actual results to differ materially from the Company’s expectations discussed in the forward-looking statements. These statements are subject to uncertainties and risks including, but not limited to, the uncertainties related to market conditions and the completion of the initial public offering on the anticipated terms or at all, 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
+1 628 283 9214
services@wealthfsllc.com

FAQ

When will Masonglory Limited (MSGY) start trading on Nasdaq?

Masonglory Limited will begin trading on the Nasdaq Capital Market on July 8, 2025 under the ticker symbol 'MSGY'.

What is the IPO price for Masonglory Limited (MSGY) shares?

Masonglory Limited has priced its IPO at $4.00 per ordinary share, offering 1.5 million shares.

How much money is Masonglory Limited (MSGY) raising in its IPO?

The company expects to raise approximately $6 million in gross proceeds before deducting underwriting discounts and other offering expenses.

How will Masonglory Limited (MSGY) use its IPO proceeds?

The proceeds will be used as follows: 15% each for workforce expansion, machinery acquisition, project portfolio diversification, and marketing efforts, with 40% for working capital and general corporate purposes.

Who is the underwriter for Masonglory Limited's (MSGY) IPO?

D. Boral Capital LLC is acting as the sole underwriter for the IPO.