mF International Ltd.

General Information
Business:

We are a holding company incorporated in the British Virgin Islands. Our principal Hong Kong subsidiary, mFINANCE Limited, provides an online trading platform for the Asian market. This is known as a Platform as a Service (PaaS). (Incorporated in the British Virgin Islands)

m-FINANCE has approximately 20 years of experience providing real-time mission critical forex, bullion/commodities trading platform solutions, financial value-added services, mobile applications and financial information for brokers and institutional clients in the region. m-FINANCE has provided a wide range of services, including the mF4 Trading Platform, Bridge and Plugins, CRM System, ECN System, Liquidity Solutions, Cross-platform “Broker+” Solution, Social Trading Apps and other value-added services.

m-FINANCE has been committed to providing a state-of-the-art trading platform and innovative one-stop trading solution that fits for the Asian market, via internet or platform as software as a service, with clients located over mainland China, Hong Kong and Southeast Asia. m-FINANCE’s customers are mainly financial institutions, including brokers, investment banks, institutional clients and financial services providers. As of the date of this prospectus, m-FINANCE’s trading platform is handling a monthly average transaction value of over US$100 billion.

*Note: Net income and revenue are in U.S. dollars (converted from Hong Kong dollars) for the 12 months that ended June 30, 2023.

(Note: mF International Ltd. upsized its IPO at pricing to 1.67 million ordinary shares (1,666,667 ordinary shares) – up from 1.56 million shares – and priced the IPO at $4.50 – the mid-point of its $4.00-to-$5.00 price range – to raise $7.52 million, the company said early Monday, April 22, 2024.)

(Note: mF International Ltd. disclosed in an F-1/A filing dated Feb. 27, 2024, that the IPO no longer includes the underwritten selling shareholder’s offer of 221,108 ordinary shares. The IPO, according to the Feb. 27, 2024, filing – aka the F-1/A – now consists of only the company’s offer of 1.56 million shares. Under the new terms, the IPO consists of 1.56 million shares – at a price range of $4.00 to $5.00 – to raise $7.02 million, according to mF International Ltd.’s F-1/A filing dated Feb. 27, 2024. The prospectus, however, still includes the registration of the selling shareholders’ proposed resale of an aggregate of 2.32 million (2,317,000) ordinary shares, according to the Feb. 27, 2024, filing with the SEC.) 

(Note: mF International Ltd. filed an F-1/A dated Feb. 16, 2024, in which it trimmed the size of its IPO to 1.78 million ordinary shares (1,781,108 ordinary shares) – down from 1.88 million shares (1,876,108 shares) and kept the price range at $4.00 to $5.00 to raise $8.01 million. Of the 1.78 million shares in the IPO, the company is offering 1.56 million shares and the underwritten selling shareholder is offering 221,108 ordinary shares. In the Feb. 16, 2024, filing with the SEC, mF International Ltd. disclosed that it has named Joseph Stone Capital LLC as the sole book-runner – replacing Spartan Capital Securities. Note: The F-1/A dated Feb. 16, 2024, also says that it is registering on behalf of the selling shareholders the resale of an aggregate of 2.32 million (2,317,000) ordinary shares.)

(Background Note: mF International Ltd. filed an F-1/A on Sept. 18, 2023, in which it named Spartan Capital Securities as the sole book-runner to replace Pacific Century Securities. The BVI-incorporated holding company filed its F-1 on Aug. 22, 2023, and disclosed terms for its IPO: 1.88 million ordinary shares (1,876,108 shares) at $4.00 to $5.00 to raise $8.44 million – with Pacific Century Securities as the sole book-runner. The holding company submitted confidential IPO documents to the SEC on Dec. 29, 2022.)

Industry: Online Trading Platform - Asian Market
Employees: 31
Founded: 2002
Contact Information
Address Unit 1801, Fortis Tower, 77-79 Gloucester Road, Wan Chai, Hong Kong
Phone Number (+852) 3426-6200
Web Address https://www.m-finance.com/
View Prospectus: mF International Ltd.
Financial Information
Market Cap $59.15mil
Revenues $4.13 mil (last 12 months)
Net Income $0.54 mil (last 12 months)
IPO Profile
Symbol MFI
Exchange NASDAQ
Shares (millions): 1.7
Price range $4.50 - $4.50
Est. $ Volume $7.5 mil
Manager / Joint Managers Joseph Stone Capital LLC
CO-Managers
Expected To Trade: 4/22/2024
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change