Londian Wason New Energy Tech, a China-based producer of copper foils mainly used for lithium-ion batteries, announced terms for its IPO on Monday.
The Shenzhen, China-based company plans to raise $75 million by offering 3.6 million ADSs at a price range of $20 to $22. Harvest Global Capital Investments, Hithium Global, and other investors, have indicated on $50 million, $7 million, and $30 million of ADSs. At the midpoint of the proposed range, Londian Wason New Energy Tech would command a market cap of $1.6 billion.
Londian Wason New Energy Tech is a Shenzhen-based manufacturer of electrolytic copper foil, a key material used in lithium-ion EV batteries, as well as electric energy meters and energy storage systems. The company has grown into one of the world's largest producers of lithium battery copper foil by capacity and market share, operating multiple production bases across China plus one under construction in Malaysia. Its product range spans high-performance lithium battery copper foil, electronic circuit foils (RTF and HVLP), and flexible copper-clad laminates, used across EV batteries, 5G communications, consumer electronics, and energy storage. Its customer base includes major global battery makers such as CATL, BYD, LG Energy Solution, Samsung SDI, and Panasonic.
Londian Wason New Energy Tech was founded in 2001 and booked $1.6 billion in revenue for the 12 months ended December 31, 2025. It plans to list on the NYSE under the symbol FOIL. Cantor Fitzgerald, Huatai Securities, CMB International Capital, US Tiger Securities, Fortune (HK) Securities, and VC Brokerage are the joint bookrunners on the deal. It is expected to price the week of August 10, 2026.
