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

According to Golden Ten Data, Chinese electrolytic copper foil manufacturer Londian Wason New Energy Tech announced the terms of its initial public offering (IPO) on Monday. The company plans to offer 3.6 million American Depositary Shares (ADS) at a price of $20 to $22 per share, raising approximately $75 million. Existing investors Harvest Global Capital Investments, Hithium Global, and other investors have respectively indicated their intention to subscribe for $50 million, $7 million, and $30 million worth of ADS. Based on the midpoint of the proposed offering price range, the company’s market capitalization will reach about $1.6 billion.

Headquartered in Shenzhen, Londian Wason New Energy Tech is a manufacturer of electrolytic copper foil, which serves as a key material for lithium-ion electric vehicle batteries, electricity meters, and energy storage systems. In terms of capacity and market share, the company has grown into one of the world’s largest lithium battery copper foil producers, operating multiple production bases in China and constructing a new plant in Malaysia.

Its product portfolio includes high-performance lithium battery copper foil, electronic circuit foil (RTF and HVLP), and flexible copper-clad laminate, widely used in electric vehicle batteries, 5G communications, consumer electronics, and energy storage. Its client base covers major global battery manufacturers such as CATL, BYD, LG Energy Solution, Samsung SDI, and Panasonic.

The company was founded in 2001 and achieved revenue of approximately $1.6 billion in the 12 months ended December 31, 2025. Londian Wason New Energy Tech plans to list on the New York Stock Exchange (NYSE) under the ticker symbol “FOIL.” Cantor Fitzgerald, Huatai Securities, CMB International, Tiger Brokers US, Futu Securities (Hong Kong), and VC Brokerage will act as joint bookrunners for this offering. Pricing is expected during the week of August 10, 2026.