- MasterBeef Group (MB, Financial) completes the over-allotment option of its IPO, raising an additional $620,000.
- The company plans to use the funds for restaurant network expansion, marketing, and technology upgrades.
- Shares are trading on the Nasdaq Capital Market under the ticker "MB".
MasterBeef Group (MB), a Hong Kong-based restaurant group specializing in Taiwanese hotpot and barbecue, has closed the over-allotment option associated with its recent IPO. This resulted in the issuance of an additional 155,000 ordinary shares at $4.00 per share, totaling approximately $620,000 in gross proceeds. The shares began trading on the Nasdaq Capital Market on April 10, 2025, under the ticker "MB".
The company plans to deploy these proceeds to expand its restaurant network through new outlets and franchising initiatives across Hong Kong and Southeast Asia, including countries like Singapore. Furthermore, the funds will support marketing and branding campaigns, the development of semi-finished food products, and investments in technology solutions for operational improvements.
Dominari Securities LLC acted as the lead underwriter for this offering, with Revere Securities LLC serving as the co-underwriter. This capital raise is expected to strengthen MasterBeef's financial position, offering greater flexibility to execute its growth strategy and navigate the challenging market conditions in the restaurant industry.
