Chinese commercial cleaning Siasun Robot&Automation supplier KOKO.US sprints to Nasdaq! IPO scale raised by 50%

Chinese intelligent commercial cleaning Siasun Robot&Automation and IoT product supplier "KOKOBOTS GROUP" recently increased the proposed size of its upcoming initial public offering (IPO) on the US stock market. It is understood that the Shanghai-based commercial cleaning company Siasun Robot&Automation plans to issue 3.8 million shares of stocks priced at 4 to 5 US dollars per share, raising approximately 17 million US dollars. The company had previously applied to issue 2.5 million shares of stocks at the same price range, planning to raise about 11 million US dollars. If calculated at the midpoint of the proposed price range for the US IPO, the funds raised by KOKOBOTS GROUP this time will be 50% more than expected, and its fully diluted market value will reach approximately 78 million US dollars. According to the revised terms of the offering, KOKOBOTS GROUP will meet the requirements of the Nasdaq new listing conditions, which include a minimum public float value of at least 15 million US dollars. Established in 2011, KOKOBOTS GROUP had revenue of 5 million US dollars in the 12 months ending on June 30, 2025. The company plans to list on the Nasdaq market under the stock code "KOKO". AC Sunshine Securities is the sole book manager for this transaction. KOKOBOTS GROUP is an innovative technology company that focuses on low-speed L4 autonomous driving, Siasun Robot&Automation, and IoT technology, integrating them into commercial cleaning and data management solutions. The company's Siasun Robot&Automation for cleaning uses a self-developed low-speed L4 autonomous driving system, integrating multiple sensors, SLAM positioning, path planning, and 5G/Wi-Fi communication. It can operate autonomously in high-traffic environments such as hotels, hospitals, shopping malls, and underground parking lots, supporting sales and leasing. In addition, KOKOBOTS GROUP also produces IoT hardware products, including wristbands and cards with built-in RFID chips, widely used for identity recognition, access control, and contactless payment. The company is a supplier of wristbands for several well-known music festivals, including Bolton Weekend Music and Arts Festival, Love Supreme Jazz Festival, Pitchfork Music Festival, Austin City Limits Music Festival, and Soundside Music Festival. In the fiscal years of 2023 and 2024 (ending on June 30), KOKOBOTS GROUP's revenue was 3.4899 million and 4.0516 million respectively, with corresponding net profits of 0.1945 million and 1.0032 million, showing a rapid growth trend. However, in the first half of the fiscal year 2025 (ending on December 31, 2024), the company's performance was volatile, with total revenue of 2.008 million US dollars, an increase of 26.8% compared to the same period last year, but the profit was under pressure, with a loss of 0.2 million US dollars.