Majestic Ideal Holdings Limited Announced Closing of Initial Public Offering

NEW YORK, July 22, 2025 (GLOBE NEWSWIRE) -- Majestic Ideal Holdings Limited (NASDAQ:MJID) (the "Company"), a provider of SCM services in the apparel industry delivering one-stop solution, today announced the closing of its initial public offering (the "Offering") of 2,500,000 ordinary shares (the "Ordinary Shares") at a price of $6.00 per Ordinary Share. The Ordinary Shares began trading on the Nasdaq Capital Market on July 18, 2025 under the symbol "MJID."

The aggregate gross proceeds from the Offering were $15.0 million, before deducting underwriting discounts and other related expenses. The Company intends to use the net proceeds to procure raw materials used in textile and garment manufacturing, to broaden the customer base and develop new customers, to enhance efficiency and SCM service capabilities, to explore and introduce eco-friendly and sustainable raw materials and to broaden the sourcing chain and to fund general working capital needs.

In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 375,000 Ordinary Shares of the Company, at the Offering price, less underwriting discounts.

Craft Capital Management, LLC and WestPark Capital, Inc. are the representatives of the underwriters (the "Underwriters") for the Offering.

Loeb & Loeb LLP is acting as U.S. ...