Mint Inc. Ltd. (MIMI), the Hong Kong-based holding company of an interior design and fit-out firm, priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 range – and raised $7.0 million on Wednesday night, Jan. 8, 2025. Mint sold 1.75 million shares – the number of shares in the prospectus. At pricing, Mint had a market cap of $91.0 million. (Editor’s Note: This column, initially published Thursday, Jan. 9, 2025, was updated on Friday, Jan. 10, 2025, with news of Mint’s stock debut on the NASDAQ.)
Mint’s stock started trading at $4.40 – up 40 cents or 10 percent – when it started trading at about 10:20 a.m. EST on Friday, Jan. 10, 2025, on NASDAQ volume of more than 150,000 shares. At the closing bell, Mint’s stock was up 11 cents to end at $4.11 on volume of about 1.5 million shares.
The U.S. stock market was closed Thursday, Jan. 9, 2025, for the state funeral at Washington National Cathedral for former President Jimmy Carter, who was the 39th president of the United States. He served as president from Jan. 20, 1977, to Jan. 20, 1981. He was 100, the oldest former U.S. president, when he died at home in Plains, Georgia, on Dec. 29, 2024. President Joe Biden is expected to deliver a eulogy for former President Carter today.
Benjamin Securities and Prime Number Capital acted as the joint book-runners for Mint’s IPO.
Mint Inc. Ltd. conducts all of its business through its operating subsidiary, Matter Interiors Limited, which was founded in November 2018. Matter provides interior design and performs fit-out work for clients in the commercial and luxury residential markets in Hong Kong. Its clients include the owners and management of retail stores, offices and other commercial properties, food and beverage outlet chains, and luxury residential properties. The holding company is incorporated in the British Virgin Islands.
Mint Inc. Ltd. is profitable. The company reported net income of $0.8 million on revenue of $4.4 million for the 12 months that ended March 31, 2024.
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