Hong Kong Web3 service provider Web3 Labs Global (MDAT.US) plans to price its US IPO at $4-5 per share, aiming to raise up to $28 million.

Hong Kong-based Web3 service provider Web3 Labs Global (MDAT.US) submitted an application to the U.S. Securities and Exchange Commission (SEC) on Wednesday, planning to issue 6.3 million shares at a price of $4 to $5 per share, raising up to $28 million through an initial public offering (IPO). Based on the midpoint of the offering price range, the market value of Web3 Labs Global will reach approximately $141 million. Web3 Labs Global is a Hong Kong-based Web3-related business service provider that focuses on supporting blockchain and decentralized technology enterprises, including startups. Its services include strategic consulting, entrepreneurship incubation and accelerator project management, as well as marketing, market research, and general business consulting for operational support. The company aims to help Web3 enterprises develop and commercialize decentralized products and services, while expanding its business footprint through regional centers covering Asia. Founded in 2017, the Hong Kong company generated revenues of $2 million in the 12 months ending on December 31, 2025. The company plans to list on the Nasdaq with the stock code "MDAT." Web3 Labs Global submitted its listing application in a confidential manner on November 3, 2025. Eddid Securities and Futures is the exclusive bookrunner for this offering.