Londian Wason US IPO

Londian Wason New Energy Tech, a Chinese copper foil maker, is targeting a valuation of up to $1.7 billion in its U.S. initial public offering. The company plans to raise up to $78.6 million by offering roughly 3.6 million American Depositary Shares priced between $20 and $22 apiece, with the potential to raise up to $90.4 million including the over-allotment option. The IPO is a test of investor appetite for Chinese listings in New York, which have dried up over the past year due to geopolitical tensions and increased scrutiny from Beijing. The China — China Securities Regulatory Commission approved the IPO in December, one of few U.S. listing applications cleared recently. Major backers include SK Group and Mirae Asset Financial Group. The company reported a net profit of 134.5 million China — Renminbi ($19.2 million) on revenue of 4.07 billion yuan in Q1 2026, compared to a net loss a year earlier. Underwriters include Cantor, Meritz Securities, CMB International, Meritz Securities, Fortune Securities, and Trust Brokerage. The company will list on the New York Stock Exchange under the symbol 'FOIL'.