China's Londian Wason seeks $1.7 billion valuation in US IPO

Investing.com -- Londian Wason New Energy Tech announced plans Monday for a U.S. initial public offering that values the Chinese copper foil manufacturer at up to $1.7 billion.

The Shenzhen-based company aims to raise up to $78.6 million through the sale of approximately 3.6 million American Depositary Shares. The shares are priced in a range between $20 and $22 each.

Cantor, Huatai Securities, CMB International, US Tiger Securities, Fortune Securities and VC Brokerage will serve as underwriters for the offering.

Londian Wason plans to list its shares on the New York Stock Exchange under the ticker symbol "FOIL."

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