Hong Kong Traditional Chinese Medicine & Physiotherapy Company Mayan Hall (MCTA.US) IPO at $4 per share soared 75% on the first day of listing.

Hong Kong Traditional Chinese Medicine Therapy Company MCTA.US, also known as Beauty Lab, made its debut on the Nasdaq on Tuesday with an initial public offering (IPO) priced at $4 per share, at the lower end of the previously announced $4-6 price range. The company issued 1.6 million shares in its IPO, raising $6 million. The stock surged 75.0% on its first day of trading, closing at $7.0 Based in Hong Kong, Beauty Lab provides therapies and products inspired by Traditional Chinese Medicine (TCM). The company currently operates 4 health centers in Hong Kong under the brand "Beauty Lab," offering beauty, health, postpartum services and products. The company also offers personalized TCM therapies for men. Data shows that for the six months ending September 30, 2024, Beauty Lab had revenue of $2.96 million, compared to $2.61 million in the same period last year, with respective net profits of $470,000 and $380,000.