Jade Jewelry Business Mao Shi Files for US Listing

The company wants to buy a gem mine with the IPO capital.
Oct. 17, 2022 22:22
Jade Jewelry Business Mao Shi Files for US Listing

(CapitalWatch, Oct. 17, New York) Mao Shi Jade Jewelry International Investment Ltd., a U.K. holding with a jade business in China, seeks to become publicly traded in the United States.

According to the prospectus filed last week, Mao Shi Jade expects to price at $5 a share, while the number of shares offered has not been disclosed.

The firm is incorporated in the United Kingdom; its operational companies are headquartered in Shenzhen. Founded in 2011, the company makes jade jewelry and art and sells via offline and online channels, including TikTok. Mao Shi sources its stone from Myanmar, the world's main supplier of jade, and plans to acquire a jadeite gem mine with the new capital, according to its prospectus.

Competition has been fierce in China's jade industry, where the stone has been a symbol of nobility, luck, and prosperity since the time of the emperors. In its prospectus, Mao Shi Jade named Chow Tai Fook (HKEX: 1929), King Fook Holdings (HKEX: 0280), Luk Fook Holdings (HKEX: 0590), and other big players it competes against in the market.

Mao Shi plans to use the proceeds from the offering for R&D and patent applications for jadeite products, to build an online jadeite alliance, invest in a big data center and sales expansion, as well as a technical system upgrade of its mall, and for the acquisition of a jadeite gem mine.

Mao Shi hopes to become publicly traded on the Nasdaq Capital Market under the symbol "MSFC."