By Renaissance Capital,
Magic Empire Global Limited, a Hong Kong-based provider of financial advisory and underwriting services, filed on Friday with the SEC to raise up to $23 million in an initial public offering.
The company plans to raise $23 million by offering 5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Magic Empire Global Limited would command a market cap of $90 million.
Magic Empire Global Limited principally engages in the provision of corporate finance advisory services and underwriting services. The company’s offerings include IPO sponsorship services, financial advisory services, compliance advisory services, and underwriting services. For the years ended December 31, 2021 and 2020, Magic Empire engaged in 6 IPO sponsorship projects, 31 financial advisory projects, 24 compliance advisory projects, and 3 underwriting projects.
The company was founded in 2016 and booked $2 million in revenue for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol MEGL. Magic Empire Global Limited filed confidentially on September 3, 2021. Network 1 Financial Securities is the sole bookrunner on the deal.
Source : https://www.renaissancecapital.com/IPO-Center/News/92344/Hong-Kong-based-Magic-Empire-Global-Limited-files-and-sets-terms-for-a-$23-