Mint Inc. Ltd. (MIMI) Plans to Raise $8 Million in December 9th IPO

Mint Inc. Ltd. (MIMI) is planning to raise $8 million in an initial public offering (IPO) on the week of December 9th, IPO Scoop reports. The company will issue 1,800,000 shares at $4.00-$5.00 per share.

In the last 12 months, Mint Inc. Ltd. generated $4.4 million in revenue and $800,000 in net income. Mint Inc. Ltd. has a market-cap of $91 million.

Benjamin Securities and Prime Number Capital served as the underwriters for the IPO.

Mint Inc. Ltd. provided the following description of their company for its IPO: “We are a holding company. Our subsidiary performs interior design services and fit out work for commercial and luxury residential properties in Hong Kong. (Incorporated in the British Virgin Islands)  We offer interior design services and fit out work. Our clients include the owners and management of retail stores, offices and other commercial properties, and luxury residential properties. Founded in 2018, we are a Hong Kong-based interior design and fit out works provider. We have a strategic focus on providing integrated and industry-specific interior design and fit out works for commercial properties. Our work encompasses offices (different industries) and various kinds of retail stores with a view to reflect our customers’ corporate values and conceptualizing our customers’ brands. Our commercial projects cover internationally renowned retail stores, F&B (food and beverage) outlet chains, and the offices and other premises of a premier charitable organization in Hong Kong. We also provide integrated interior design and fit out works for luxury residential properties in order to enhance both the aesthetics and functionality of the interior space. Our projects can be broadly categorized into (i) Design services, in which we develop and create tailor-made interior design proposals; and (ii) Design and fit out services, in which we undertake overall project management, coordination and quality control, and supervise fit out works carried out by our subcontractors, complemented by other services such as repair and maintenance works and procurement of furniture and fit out materials, etc. Industry Background Interior design and fit out market refers to the market that offers integrated services aimed at visually and functionally enhancing the interior environment of buildings, with a primary objective to create habitable space that cater to the needs and comfort of the occupants. Interior design and fit out works are defined as the process to visually and functionally enhance the ambience of interior space. It generally includes design and decorating works ranging from design drawings, site works, and post-design consultancy and supervisory services performed by professional practitioners. Based on the types of buildings, interior design and fit out works services market can be divided into residential sector, commercial sector, industrial sector, community facilities sector, government institutions sector and others. Competitive Landscape The interior design and fit out market in Hong Kong is highly fragmented. In 2022, there were approximately two thousand establishments, with more than seven thousand individuals engaged in various aspects of the interior design and fit out works market in Hong Kong. Due to its highly fragmented nature, the interior design and fit out industry currently has no major leading players identified. Note: Net income and revenue are for Fiscal Year 2024 – the 12 months that ended March 31, 2024. (Note: Mint filed its F-1 on Sept. 4, 2024, and disclosed the terms for its IPO: 1.75 million shares at a price range of $4.00 to $5.00 to raise $7.88 million. Background: Mint submitted confidential IPO documents to the SEC on Dec. 22, 2023.) “.

Mint Inc. Ltd. was founded in 2018 and has 15 employees. The company is located at 503 Park Tower, 15 Austin Road, Tsim Sha Tsui, Kowloon, Hong Kong Tel: +852 2866-1663 and can be reached via phone at +852 2866-1663 or on the web at https://mimintinc.com/.