Kandal M Venture said Wednesday that it has priced its initial public offering of 2 million class A common shares at $4 apiece.
The company said it granted the underwriters a 45-day option to purchase up to 300,000 additional shares at the same IPO price.
Kandal M Venture expects to close the IPO on Thursday and plans to use the proceeds to increase its production capacity, expand its customer base, and for additional working capital.
Kandal M Venture said its shares are set to start trading on Nasdaq from Wednesday under the "FMFC" ticker.
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