NEW YORK, Aug. 12, 2026 /PRNewswire/ — LONDIAN WASON NEW ENERGY TECH INC. (“Londian Wason” or the “Company”), leading global researcher, developer, and manufacturer of electrolytic copper foil, announced the pricing of its upsized initial public offering of approximately 4.3 million American depositary shares, or ADSs, at a public offering price of $22.00 per ADS, for a total of $94.3 million in gross proceeds. In addition, Londian Wason has granted the underwriters a 30-day option to purchase up to an additional approximately 642,857 ADSs from Londian Wason at the initial public offering price, less underwriting discounts and commissions.
All of the ADSs are being offered by Londian Wason. The net proceeds from the offering, after deducting underwriting discounts and commissions and other offering expenses payable by the Company, are expected to be approximately $87.0 million, excluding any exercise of the underwriters’ option to purchase additional ADSs.
The ADSs are expected to begin trading on the New York Stock Exchange (NYSE) on August 12, 2026, under the ticker symbol “FOIL”. The offering is expected to close on August 13, 2026, subject to the satisfaction of customary closing conditions.
Londian Wason currently intends to use the net proceeds from this offering primarily to fund global production expansion and facility upgrades, research and development of advanced technologies, improvements in manufacturing efficiency, expansion of its product portfolio and applications, and general corporate purposes.
Cantor is acting as lead book-running manager for the offering. Huatai Securities, CMB International, and US Tiger Securities are acting as joint book-running managers. Fortune Securities, VC Brokerage, and BOCOM International are acting as co-managers.
Registration statements relating to these securities became effective by the Securities and Exchange Commission on August 11, 2026. The offering is being made only by means of a prospectus. A copy of the final prospectus may be obtained, when available, from: Cantor Fitzgerald & Co., Attention: Capital Markets, 110 East 59th Street, 6th Floor, New York, New York 10022 or by email to prospectus@cantor.com. Copies may also be obtained, when available, by visiting EDGAR on the SEC’s website at www.sec.gov.
About Londian Wason
According to Frost&Sullivan, Londian Wason was the world’s largest supplier of lithium-ion battery (“LiB”) copper foil in terms of sales volume in 2025, holding a global market share of 7.6%. In 2025, the Company supplied approximately 111,985 metric tons of LiB copper foil, maintaining the world’s largest annual sales volume. As an industry leader in the global electrolytic copper foil market, Londian Wason has established a high-quality and diversified global customer base, serving top global battery and electronic circuit manufacturers such as LG Energy Solution, Panasonic Industrial Materials, SK On, Samsung SDI, ATL, CATL, BYD, and Sunwoda.
Londian Wason was the first copper foil manufacturer in China to successfully develop 6µm high-strength LiB copper foil and the first in the world to achieve mass production of 6µm copper foil. It is also the first in China to successfully develop ultra-thin 4µm LiB copper foil and the first in the world capable of mass-producing high-tensile strength 4µm LiB copper foil. Londian Wason possesses the world’s largest designed capacity: as of December 31, 2025, the Company operated six electrolytic copper foil manufacturing sites with the largest global electrolytic copper foil designed annual capacity of approximately 180,500 metric tons.
In FY2025, the Company’s revenue reached RMB10.942 billion (approximately US$1.565 billion), representing significant growth from RMB8.762 billion in FY2024. Net income for FY2025 reached RMB20.315 million (approximately US$2.905 million), while Adjusted EBITDA reached RMB868.851 million (approximately US$124.244 million). In terms of R&D, as of December 31, 2025, the Company had a dedicated R&D team of 428 professionals, holding 634 registered patents and 168 pending patent applications in China. It also employs approximately 728 core manufacturing personnel with an average of over 10 years of industry experience.
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