Xinxu Copper Industry Technology, a Chinese producer of copper and copper alloy products, announced terms for its IPO on Tuesday.
The Wuhu, China-based company plans to raise $7 million by offering 1.5 million shares at a price range of $4 to $5. At the midpoint of the proposed range, Xinxu Copper Industry Technology would command a market value of $97 million.
Through its operating subsidiary Anhui Xinxu, the company primarily engages in the research and development, fabricating and processing, and sale and distribution of copper and copper alloy products. Its products include T2 red copper bars, T2 tin-plated copper bars, T2 copper rods, electrolytic copper, and aluminum bar, among others.
Xinxu Copper Industry Technology was founded in 2017 and booked $123 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol XXC. Craft Capital Management and R.F. Lafferty & Co. are the joint bookrunners on the deal.