Masonglory shares open higher in Nasdaq debut after $4/share IPO pricing

Investing.com -- Masonglory Limited began trading on the Nasdaq Capital Market Thursday, with shares opening at $4.28, above the initial public offering (IPO) price of $4.00 per share.

The Hong Kong-based subcontractor, which provides wet trades and related ancillary services to private and public sectors, raised approximately $6 million in gross proceeds from its offering of 1,500,000 ordinary shares, before deducting underwriting discounts and other expenses.

Masonglory’s shares are trading under the ticker symbol "NASDAQ:MSGY" on the Nasdaq Capital Market.

The company has granted its underwriters an option to purchase up to an additional 225,000 ordinary shares at the public offering price, less underwriting discounts, within 45 days from the closing date to cover any over-allotment. The offering was conducted on a firm commitment basis with D. Boral (OTC:BOALY) Capital LLC acting as the sole underwriter.

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