JM Group said late Tuesday it has priced its initial public offering of about 3.8 million ordinary shares at $4 per share for expected gross proceeds of $15 million.

Underwriters have been granted a 45-day option to purchase up to 562,500 additional shares.

The offering is set to close this Thursday, subject to customary closing conditions. Shares are expected to debut on the NYSE American this Wednesday under the ticker symbol, "JMG."