Londian Wason New Energy Tech (NYSE: FOIL) completed its initial public offering on the New York Stock Exchange on August 13, 2026, issuing approximately 4.3 million ADS at US$22.00 per ADS. The shares opened at US$26.00, an 18.18% premium to the IPO price.
The company is a leading global manufacturer of electrolytic copper foil and reports being the world’s largest supplier of lithium-ion battery copper foil by 2025 sales volume. It serves major battery, CCL and PCB manufacturers, and plans to use net proceeds mainly for global capacity expansion, technology R&D, process efficiency, broader product offerings and general corporate purposes.
For the quarter ended March 31, 2026, Londian Wason reported revenue of RMB 4.07 billion (US$582.4 million), up about 113.71% year over year, and a net profit of RMB 134.5 million (US$19.2 million), reversing a prior-year net loss.
Londian Wason (NYSE: FOIL) priced its upsized U.S. initial public offering at $22.00 per American depositary share, selling approximately 4.3 million ADSs for expected gross proceeds of $94.3 million and net proceeds of about $87.0 million, excluding any underwriter option exercise.
The underwriters have a 30‑day option to buy up to 642,857 additional ADSs. Trading on the NYSE is expected to begin on August 12, 2026 under ticker FOIL, with closing targeted for August 13, 2026, subject to customary conditions. Proceeds are intended for production expansion, facility upgrades, R&D, manufacturing efficiency, product expansion, and general corporate purposes.