MF International, a holding company based in the British Virgin Islands, has submitted an application to list on Nasdaq. With three subsidiaries located in Hong Kong, including m-FINANCE, mFTT, and OTX, MF International aims to expand its service capacity through this offering.
In a filing with the U.S. Securities and Exchange Commission, the company stated that the offering consists of approximately 1.9 million shares, including the underwriters' shares. The funds raised from this offering are intended to support various aspects of the company's expansion plans.
Enhancing Service Capacity
To bolster its service capacity, MF International plans to invest in the following areas:
- Talent Acquisition: The company intends to hire software developers, sales and marketing personnel, an in-house counsel, and three to four senior compliance officers. The estimated annual salary expenditure for these new hires is approximately $1.8 million.
- Marketing Initiatives: Approximately $1.5 million will be allocated towards marketing efforts to promote and grow the company's brand.
- Office Space Expansion: MF International plans to rent additional office space, with an estimated annual cost of around $360,000.
- Infrastructure Upgrade: The company intends to enhance its hardware equipment and network infrastructure at an estimated annual cost of approximately $320,000.
Pacific Century Securities has been appointed as the underwriter for this offering.
By focusing on these key areas, MF International aims to capitalize on growth opportunities and further establish its presence within the financial trading solutions industry.