KBAT Group, a Chinese maker of customized food packaging machines, filed on Friday with the SEC to raise up to $17 million in an initial public offering.
The company plans to raise $17 million by offering 3.8 million shares at a price range of $4 to $5. At the midpoint of the proposed range, KBAT Group would command a market value of $96 million.
KBAT Group specializes in the design, manufacturing, and sale of customized food packaging machines, sold to both domestic and international customers through established sales and distribution channels. The company's machines can be used for packaging cooked and uncooked food, pharmaceutical products, hardware components, and medical devices, among other things. The machines primarily fall into three categories: thermoforming vacuum packaging machines, vacuum packaging machines, and modified atmosphere packaging machines and skin packaging machines.
The Weifang, China-based company was founded in 2011 and booked $12 million in sales for the 12 months ended March 31, 2025. It plans to list on the Nasdaq under the symbol KBAT. KBAT Group filed confidentially on November 15, 2024. Network 1 Financial Securities is the sole bookrunner on the deal.
