Millennium Group International Holdings Limited (MGIH) expects to raise $5 million in an initial public offering on Tuesday, April 4th, IPO Scoop reports. The company will be issuing 1,300,000 shares at $4.00 per share.

In the last year, Millennium Group International Holdings Limited generated $66.2 million in revenue and $4.1 million in net income. Millennium Group International Holdings Limited has a market-cap of $90 million.

Revere Securities and R.F. Lafferty & Co. acted as the underwriters for the IPO.

Millennium Group International Holdings Limited provided the following description of their company for its IPO: "Millennium Group International Holdings Limited, or Millennium, is a holding company incorporated in the Cayman Islands. As a holding company with no material operations, it conducts a substantial majority of its operations through the subsidiaries established in Hong Kong, the Peopleâ€s Republic of China, or the PRC or China, and Vietnam. Founded in 1978, we are a long-established paper-based packaging solutions supplier. We are headquartered in Hong Kong with operations in the PRC and Vietnam. We operate two production facilities in Guangdong Province of the PRC. We also operate a supply chain management business to service our global clients who source their packaging needs from Vietnam and other Association of Southeast Asian Nations (“ASEAN”) countries. We have also established offices in Hong Kong and Vietnam to service our customers outside the PRC. We are a third-generation family-owned business and our history can be traced back to 1978 when Mr. Yee Cheong Lai, our founder, who engaged in the sale of Corrugated Paper in Hong Kong and developed a vision to becoming a one-stop integrated services provider for paper related products. Since our inception, through the continued efforts of our founder, the second generation and third generation of the family, we have diversified our business segments beyond the sale of Corrugated Paper to production and sale of packaging products and corrugated products with deliveries to, among others, PRC, Hong Kong, Vietnam, Myanmar, Australia, Indonesia, Cambodia, Taiwan, Thailand, United States, India and Germany. Throughout our years of dealings, we have developed and accumulated extensive industry experience and capabilities in relation to design and production of packaging products and corrugated products, packaging costing management, and print quality consistency control. We plan on further expanding our business in packaging products supply chain management solution to assist our global customers who source their supplies from regions in Southeast Asia. We offer paper-based inner and outer packaging products which can be broadly categorized into packaging products and corrugated products. Note: Revenue and net income figures are for the year ended June 30, 2022. (Note: Millennium Group International Holdings Limited cut the size of its IPO by 38 percent to 1.25 million shares – down from 2.0 million shares – and kept the assumed IPO price at $4.00 – to raise $5.0 million, according to an F-1/A filing dated March 15, 2023.) (Note: Millennium Group International Holdings Limited changed underwriters and cut its IPO by 60 percent in an F-1/A filing dated March 3, 2023. Revere Securities and R.F. Lafferty & Co. are the new joint book-runners, replacing Network 1 Financial Securities, according to the March 3, 2023, SEC filing. Millennium Group slashed its IPO to 2.0 million shares – down from 5.0 million shares – and set the assumed IPO price at $4.00 – the bottom of its $4.00 to $5.00 price range – to raise $8.0 million. The IPO will now raise 64 percent less than the $22.5 million in estimated IPO proceeds under the previous terms. Millennium Group filed its F-1 on Oct. 28, 2022, and disclosed terms for its IPO: 5.0 million shares at $4.00 to $5.00 each to raise $22.5 million. The company submitted confidential IPO paperwork to the SEC on Jan. 31, 2022.) ".

Millennium Group International Holdings Limited was founded in 1978 and has 861 employees. The company is located at Rm 2722, 27/F, No.1 Hung To Road, Kwun Tong, Kowloon, Hong Kong 999077 and can be reached via phone at +852 36195768.

Receive News & Ratings for Millennium Group International Holdings Limited Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Millennium Group International Holdings Limited and related companies with MarketBeat.com's FREE daily email newsletter.