Global Copper Foil Leader Londian Wason Announces Pricing of Upsized Initial Public Offering
Rhea-AI Summary
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.
Positive
- $94.3 million in gross IPO proceeds at $22 per ADS
- Expected net IPO proceeds of about $87.0 million
- NYSE listing under ticker FOIL expected on August 12, 2026
- Stated use of proceeds targets production expansion, upgrades, R&D, and product growth
Negative
- All approximately 4.3 million ADSs are newly issued, implying shareholder dilution
- 30-day underwriter option for up to 642,857 ADSs could add further dilution if exercised
News Explained
The priced IPO remains pending its expected
AI-generated analysis. How Rhea-AI works. Not financial advice.
All of the ADSs are being offered by Londian Wason. The net proceeds from the offering, after deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately
The ADSs are expected to begin trading on the New York Stock Exchange (NYSE) on August 12, 2026, under the ticker symbol "FOIL". The offering is expected to close on August 13, 2026, subject to the satisfaction of customary closing conditions.
Londian Wason currently intends to use the net proceeds from this offering primarily to fund global production expansion and facility upgrades, research and development of advanced technologies, improvements in manufacturing efficiency, expansion of its product portfolio and applications, and general corporate purposes.
Cantor is acting as lead book-running manager for the offering. Huatai Securities, CMB International, and US Tiger Securities are acting as joint book-running managers. Fortune Securities, VC Brokerage, and BOCOM International are acting as co-managers.
Registration statements relating to these securities became effective by the Securities and Exchange Commission on August 11, 2026. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor,
About Londian Wason
According to Frost&Sullivan, Londian Wason was the world's largest supplier of lithium-ion battery ("LiB") copper foil in terms of sales volume in 2025, holding a global market share of
Londian Wason was the first copper foil manufacturer in China to successfully develop 6µm high-strength LiB copper foil and the first in the world to achieve mass production of 6µm copper foil. It is also the first in China to successfully develop ultra-thin 4µm LiB copper foil and the first in the world capable of mass-producing high-tensile strength 4µm LiB copper foil. Londian Wason possesses the world's largest designed capacity: as of December 31, 2025, the Company operated six electrolytic copper foil manufacturing sites with the largest global electrolytic copper foil designed annual capacity of approximately 180,500 metric tons.
In FY2025, the Company's revenue reached RMB10.942 billion (approximately US
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SOURCE LONDIAN WASON NEW ENERGY TECH INC.