Majestic Ideal Holdings Ltd., a provider of supply chain management (SCM) services, aims to raise around US $ 17 million through a US public offering this year. At a price of US $ 4.5 per share, 3.75 million shares will be made available in the IPO, bringing in around US $ 17 million. The shares are made up of 1.25 million shares from a selling shareholder in addition to 2.5 million common shares. Majestic declared a net profit of US $ 1 million for the fiscal year that ended on 30th September 2022, on revenues of US $ 16.10 million, of which US $ 15.3 million came from the sale of yarns and US $ 780,944 from the selling of finished clothing. Sales of finished goods made up the remainder of the firm, with yarn sales accounting for 95,2 percent.

Source: Economic Times May 10, 2023 07:27 UTC