Kandal M Venture Limited Announces Full Exercise of Underwriters’ Over-Allotment Option

New York, July 16, 2025 (GLOBE NEWSWIRE) -- Kandal M Venture Limited (Nasdaq: FMFC) (the “Company”), a contract manufacturer of affordable luxury leather goods with manufacturing operations in Cambodia, today announced that the underwriters of its previously announced initial public offering (the “Offering”) have exercised their over-allotment option in full to purchase an additional 300,000 Class A ordinary shares at the public offering price of $4.00 per share, resulting in additional gross proceeds of $1.2 million, before deducting underwriting discounts and other related expenses. After giving effect to the full exercise of the over-allotment option, the total number of Class A ordinary shares sold by the Company in the Offering has increased to 2,300,000 Class A ordinary shares and the gross proceeds has increased to $9.2 million, before deducting underwriting discounts and other related expenses. The option closing date was July 16, 2025. The Class A ordinary shares began trading on the Nasdaq Capital Market on June 25, 2025, under the symbol “FMFC.”