Londian Wason Prices $94 Million IPO on NYSE

The offering involves 4.3 million American depositary shares, with underwriters holding a 30-day option to purchase an additional 642,857 shares. Net proceeds of approximately $87 million are earmarked for global facility expansion, research and development, and manufacturing upgrades. Cantor Fitzgerald serves as the lead book-running manager, supported by Huatai Securities, CMB International, and US Tiger Securities.

Londian Wason maintains a dominant position in the electrolytic copper foil sector, reporting a 7.6% global market share in 2025. The company supplied 111,985 metric tons of material last year to major manufacturers including LG Energy Solution, Panasonic, and CATL. With six manufacturing sites and a designed annual capacity of 180,500 metric tons, the firm has established itself as an early innovator in thin-foil production, specifically in the 4µm and 6µm categories.

Financial records for fiscal year 2025 show revenue reaching RMB 10.94 billion, or approximately $1.56 billion, up from RMB 8.76 billion the previous year. While the company reported a net income of RMB 20.3 million, its adjusted EBITDA stood at RMB 868.9 million. The company currently supports these operations with a technical team of 428 professionals and a portfolio of 634 registered patents.