Microcap IPO flow slows to a customary year-end trickle as 2023 and Q4 wind down, with three companies on the calendar this week.
The companies include an online retailer providing cross-border services such as digital marketing, a social good organization providing a free car communication platform that integrates low-cost patient resources from commercial, government, and nonprofit companies, and a Hong Kong distributor of reflecting and non-reflective garment trims.
Reflective and Non-Reflective Garment Trim in Hong Kong
J-Long Group Limited (JL) has an estimated IPO date of Dec. 22, aiming to raise $7 million at a $157 million market cap. Founded in 1985 and based in Hong Kong, the company is a distributor of reflecting and non-reflective garment trims such as tapes, heat transfers, woven labels, fabrics, piping, drawcords, sewing badges, and zipper pulls, serving over 100 international brands worldwide.
J-Long Group Limited booked $38 million in sales for the year ended March 2023. The sole bookrunner on this deal is Eddid Securities and Futures.
Updated IPOs
Linkage Global (LGCB) had an estimated IPO date of Dec. 8, seeking to raise $7.5 million at a $107.5 million market cap. Now, the company has an estimated IPO date of Dec. 19, still aiming to raise $7.5 million.
Docola (DOCO) had estimated IPO dates of Nov. 21 and Dec. 5, intending to raise around $7 million at almost a $31 million market cap. Now, the company has an estimated IPO date of Dec. 20, still seeking to raise almost $7 million.
