Souffle, anyone? Enigmatig (EGG), a Hong Kong cross-border licensing consultant, popped up to $13.34 – up $8.34 from the stock’s $5.00 IPO price – to score a moonshot in its NYSE – American Exchange (NYSE – AmEx) debut today (Wednesday, June 18, 2025). Enigmatig’s stock touched its intraday high at around 10:47 a.m. EDT today – Wednesday, June 18, 2025 – and slid to trade at $8.60 at around noon EDT today.
Enigmatig Limited trimmed its IPO at pricing to 2.85 million shares – down from 3.75 million shares in the prospectus – and priced the deal at $5.00 – the top of its $4.00-to-$5.00 price range – on Tuesday night, June 17, 2025.
At pricing, Enigmatig had a market cap of $139.23 million.
Prime Number Capital was the sole book-runner.
Enigmatig provides “one-stop cross-border licensing solutions and related services,” according to the prospectus. Most of its clients are headquartered in the Asia-Pacific region, primarily Hong Kong, Malaysia, Thailand and mainland China. The company also serves clients in the United Arab Emirates (UAE). Enigmatig serves its clients through global offices in four cities – Singapore, Hong Kong, Shanghai and London – as well as from a desk in Bangkok, Thailand, the prospectus said.
The company generates income mostly from fees for helping clients obtain or renew brokerage licenses and other financial licenses in London, Cyprus and Belize as well as in other locales, the prospectus said. Enigmatig also helps its clients comply with license requirements.
Enigmatig is profitable: Net income of $821,192 on revenue of $3.97 million for the fiscal year that ended Sept. 30, 2024 – down from the year-earlier net income of $1,134,436 on revenue of $4.61 million for the fiscal year that ended Sept. 30, 2023, according to the prospectus.
(For more information about these companies, please check the IPO Calendar and the individual IPO Profiles found on the IPOScoop.com website.)
Note: Never trade on proposed symbols. They have been known to change and you might buy something on the OTC Bulletin Board.
To see what time the NASDAQ IPOs are expected to trade, please log in to: NASDAQTrader.com then scroll down to IPO Message.
Disclosure: Nobody on the IPOScoop.com staff has a position in any stocks mentioned above, nor do they trade or invest in IPOs. The IPOScoop.com staff does not issue advice, recommendations or opinions.
Disclaimer: A SCOOP Rating (Wall Street Consensus of Opening-day Premiums) is a general consensus taken, at press time, from Wall Street and investment professionals concerning how well an IPO might perform when it starts trading. The SCOOP Rating does not reflect the opinions of anyone associated with IPOScoop.com. The SCOOP ratings should not be taken as investment advice. The rating merely reflects the opinion of the professionals at the time of publication and is subject to last-minute changes due to market conditions, changes in a specific offering and other factors, such as changes in the proposed offering terms and the shifting of investor interest in the IPO. The information offered is taken from sources we believe to be reliable, but we cannot guarantee the accuracy.