Ming Shing Group Holdings Limited Announces Closing of the Acquisition of PMA Nano Carbon Tech Limited and Issuance of Unsecured Convertible Promissory Notes
Rhea-AI Summary
Ming Shing Group (NASDAQ: MSW) closed its acquisition of PMA Nano Carbon Tech Limited on June 9, 2026. The deal follows a May 26, 2026 stock purchase agreement to acquire 100% of PMA Nano Carbon Tech’s issued share capital for US$110,000,000.
Consideration will be fully settled through issuing unsecured convertible promissory notes totaling US$110,000,000 to three selling shareholders.
Positive
- Acquisition of 100% of PMA Nano Carbon Tech share capital completed
- US$110,000,000 transaction size underscores a significant corporate development
Negative
- US$110,000,000 unsecured convertible promissory notes issued as acquisition consideration
News Market Reaction – MSW
In the Jun 10 session, MSW gained 2.27%, reflecting a moderate positive market reaction. Argus tracked a peak move of +310.8% during that session. Argus tracked a trough of -12.2% from its starting point during tracking. Our momentum scanner triggered 56 alerts that day, indicating high trading interest and price volatility. Trading volume was exceptionally heavy at 25.8x the daily average, suggesting very strong buying interest.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Jun 04 | Leadership resignations | Negative | -2.0% | CEO and independent director resigned for personal reasons, prompting management reshuffle. |
| May 27 | Board reorganization | Positive | +10.8% | Appointment of Zhijun Pan as chairman, tied to the planned PMA Nano Carbon acquisition. |
| May 26 | Acquisition agreement | Negative | -24.1% | Agreement to acquire PMA Nano Carbon Tech for US$110M via unsecured convertible notes. |
| Mar 20 | Earnings update | Negative | -2.4% | Six‑month results showed revenue down 51.6% and a swing to net loss. |
| Mar 02 | Finance team changes | Neutral | +6.3% | CFO and CAO departures alongside appointment of a new CFO with long experience. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news reactions mostly aligned with the perceived tone of each announcement, with only one notable divergence.
Over the last few months, Ming Shing has combined weak fundamentals with aggressive strategic moves. On Mar 20, 2026, it reported a sharp revenue decline and net loss for the six months ended Sep 30, 2025, which was followed by multiple leadership changes on Mar 2, May 27 and Jun 4. The company then agreed on May 26 to acquire PMA Nano Carbon Tech using US$110 million in unsecured convertible promissory notes. Today’s closing of that acquisition continues this shift toward the graphene-based technology business.
Key Terms
unsecured convertible promissory notes financial
stock purchase agreement financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
Hong Kong, June 09, 2026 (GLOBE NEWSWIRE) -- Ming Shing Group Holdings Limited (the “Company” or “Ming Shing”) (NASDAQ: MSW), a Hong Kong-based company mainly engaged in wet trades works whose mission it is to become the leading wet trades works service provider in Hong Kong, announces a significant update in its business development.
Ming Shing is pleased to announce that it has closed the acquisition of PMA Nano Carbon Tech Limited. As previously reported, on May 26, 2026, the Company entered into a stock purchase agreement with PMA Technology Holdings Limited, Legend Master Development Limited and F.F.Formation Holding Co. Ltd (collectively the “Sellers”) for the acquisition of the entire issued share capital of PMA Nano Carbon Tech Limited, an exempted limited company incorporated under the laws of the British Virgin Islands, at the consideration of US
About Ming Shing Group Holdings Limited
Ming Shing Group Holdings Limited is a Hong Kong-based company mainly engaged in wet trades works, such as plastering works, tile laying works, brick laying works, floor screeding works and marble works. With a mission to become the leading wet trades works services provider in Hong Kong, the Company strives to provide quality services that comply with its customers’ quality standards, requirements, and specifications. The Company conducts its business through its two wholly-owned Hong Kong operating subsidiaries, MS (HK) Engineering Limited and MS Engineering Co. Limited. MS (HK) Engineering Limited is a registered subcontractor and a registered specialist trade contractor under the Registered Specialist Trade Contractors Scheme of the Construction Industry Council and undertakes both private and public sector projects, while MS Engineering Co., Limited mainly focuses on private sector projects. For more information, please visit the Company’s website: https://ir.ms100.com.hk.
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 may affect its financial condition, results of operations, business strategy and financial needs. Investors can find many (but not all) of these statements by the use of words such as “aim”, “anticipate”, “believe”, “estimate”, “expect”, “going forward”, “intend”, “may”, “plan”, “potential”, “predict”, “propose”, “seek”, “should”, “will”, “would” 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. 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.
For more information, please contact:
Ming Shing Group Holdings Limited
Investor Relations Department
Email: ir@ms100.com.hk
