Luda Technology Group, a Chinese manufacturer of stainless and carbon steel flanges and fittings products, raised $10 million in its US IPO by offering 2.5 million shares at $4.00 per share, in line with its proposed terms.
Headquartered in Hong Kong and controlled by its CEO Biu Ma, Luda Technology Group generates revenue through the manufacture of stainless steel and carbon steel flanges and fittings products, as well as the trading of steel pipes, valves, and other steel tubing products. The company's manufacturing base is located in Taian City in mainland China. Its sales network spans China and other parts of Asia, South America, Australia, Europe, and North America, with customers comprising manufacturers and traders from the chemical, petrochemical, maritime, and manufacturing industries.
Luda Technology Group plans to list on the NYSE American on Thursday under the symbol LUD. Revere Securities acted as lead underwriter on the deal.
