Chinese copper foil manufacturer Longdian Huaxin (FOIL.US) has set its IPO price at $20-22 per share, aiming to raise $75 million.

Chinese electrolytic copper foil manufacturer Londian Wason New Energy Tech announced its initial public offering (IPO) terms on Monday. The company plans to issue 3.6 million American Depositary Shares (ADS) at a price range of $20 to $22 per share, raising approximately $75 million. Existing investors Harvest Global Capital Investments, Hithium Global, and other investors have expressed interest in subscribing for ADS valued at $50 million, $7 million, and $30 million, respectively. Based on the midpoint of the proposed price range, the company's market capitalization is expected to reach approximately $1.6 billion. Headquartered in Shenzhen, Londian Wason is a manufacturer of electrolytic copper foil, which is a key material for lithium-ion electric vehicle batteries, electric meters, and energy storage systems. The company has grown to become one of the largest producers of lithium battery copper foil globally in terms of capacity and market share, operating multiple production bases in China and having established a new factory in Malaysia. Its products include high-performance lithium battery copper foil, electronic circuit foil (RTF and HVLP), and flexible copper-clad laminates, widely used in electric vehicle batteries, 5G communications, consumer electronics, and energy storage fields. Its clients include major global battery manufacturers such as Contemporary Amperex Technology (CATL), BYD Company Limited (BYD), LG Energy Solution, Samsung SDI, and Panasonic. Founded in 2001, the company is projected to achieve revenues of approximately $1.6 billion for the 12-month period ending December 31, 2025. Londian Wason plans to list on the New York Stock Exchange (NYSE) under the ticker symbol FOIL. Cantor Fitzgerald, Huatai, CMB International, Tiger Brokers (US), Futu Securities (Hong Kong), and VC Brokerage are serving as the co-bookrunners for this offering. Pricing is expected to occur during the week of August 10, 2026.