Izmagilov
Asian grocery retailer Maison Solutions (MSS) has applied to raise $12 million through an IPO.
The California-based grocer said in a filing that it intends to offer 3M shares at a price of $4 per share. The underwriters would be given a 45-day option Buy up to 450,000 additional shares.
Maison Solutions hopes to list its shares on the Nasdaq under the symbol MSS. Joseph Stone Capital is acting as Lead Bookrunner.
The company is in the black. For the nine month period ended January 31, the company reported net income of $1.2 million on sales of $41 million.
According to the filing, Maison Solutions plans to use a portion of the proceeds from the IPO to pay down debt.
More on IPOs:
Hong Kong brokerage firm Solowin sets terms for proposed $15 million US IPO
China’s lemeng bumps up proposed US IPO to $20 million, sets terms
Cancer test developer Advanced Biomed is filing for a proposed $150 million IPO
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