KBAT Group, a Chinese maker of customized food packaging machines, raised the proposed deal size for its upcoming IPO on Friday.
The Weifang, China-based company now plans to raise $28 million by offering 6.3 million shares at a price range of $4 to $5. The company had previously filed to offer 3.8 million shares at the same range. At the midpoint of the revised deal size, KBAT Group will raise 67% more in proceeds than previously anticipated and command a market cap of $107 million (+12% versus previous terms).
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.
KBAT Group was founded in 2011 and booked $14 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol KBAT. Network 1 Financial Securities is the sole bookrunner on the deal.
