MasterBeef Group (MB, Financial), operating 12 Taiwanese hotpot and barbecue restaurants in Hong Kong, has announced the terms for its initial public offering (IPO). The company plans to issue 2 million shares, priced between $4 and $5 each, aiming to raise $9 million. At the midpoint of the proposed price range, the company's market valuation is expected to reach $77 million.
Founded in 2019, MasterBeef Group is a full-service restaurant group specializing in Taiwanese hotpot and barbecue. It operates under the "Master Beef" and "Anping Grill" brands. For the 12 months ending June 30, 2024, the company reported revenues of $67 million. The shares are set to be listed on NASDAQ under the ticker MB, with Revere Securities managing the transaction.
