Masterbeef Group Prices IPO Of 2,000,000 Ordinary Shares Par Value US$0.0005/Shr, At Public Offering Price Of Us$4.00 Per Ordinary Share

Hong Kong, April 10, 2025 (GLOBE NEWSWIRE) -- MasterBeef Group (the "Company"), a full-service restaurant group in Hong Kong, specializing in Taiwanese hotpot and Taiwanese barbecue, today announced the pricing of its initial public offering (the "Offering") of 2,000,000 ordinary shares, par value US$0.0005 per share, at a public offering price of US$4.00 per ordinary share. The ordinary shares have been approved for listing on the Nasdaq Capital Market and are expected to commence trading on April 10, 2025 under the ticker symbol "MB". The Company is also registering an aggregate of 1,815,000 ordinary shares for the potential resale by certain shareholders of the Company. These shares will not be underwritten by the underwriters and the Company will not receive any proceeds from the sale of the shares held by these resale shareholders.

The Company expects to receive aggregate gross proceeds of US$8.0 million from the Offering, before deducting underwriting discounts and other related expenses. In addition, the Company has granted the underwriters a 45-day option to purchase up to an additional 300,000 ordinary shares at the public offering price, less underwriting discounts. The Offering is expected to close on or about April 11, 2025, subject to the satisfaction of customary closing conditions.