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Londian Wason Prices Upsized IPO and Debuts on NYSE at $2.01 Billion Valuation

Raising $94.3 million, the listing signals renewed U.S. investor interest in a rare Chinese public offering.

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., July 6, 2026. REUTERS/Jeenah Moon/File Photo
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Overview

  • Londian Wason began trading on the New York Stock Exchange Wednesday and opened at $26 per American depositary share, implying a roughly $2.01 billion market valuation.
  • The company priced about 4.3 million ADSs at $22 each for gross proceeds of $94.3 million and granted underwriters a 30‑day option to buy additional shares.
  • Londian Wason says it was the world's largest supplier of lithium‑ion battery copper foil in 2025 and operates six plants with about 180,500 metric tons of designed annual capacity.
  • Investors should note business risks disclosed in the filing: the five biggest customers made up about 64% of 2025 revenue and chairman co‑CEO Guanran Wang will hold about 52% of voting power.
  • The company plans to use the net proceeds for production expansion, facility upgrades and R&D, and the listing is the largest U.S. IPO by a Chinese firm in more than a year, a development that could affect EV battery supply chains and draw continued regulatory scrutiny.