Londian Wason debuts on New York Stock Exchange via $94.3 million IPO

Londian Wason New Energy Tech, a global manufacturer of electrolytic copper foil, has completed its initial public offering on the New York Stock Exchange under the ticker symbol ‘FOIL’. The company offered approximately 4.3 million American Depositary Shares (ADS) at $22 per share. On its debut trading day, the stock opened at $26, an 18.18% increase over the offering price.

Londian Wason reported being the only copper foil manufacturer globally to choose a U.S. public listing. The company expects net proceeds of approximately $87 million after underwriting expenses. Copper foil is a critical component used in lithium-ion batteries, printed circuit boards (PCBs), and copper clad laminates (CCLs).

The company serves a major global customer base, including LG Energy Solution, CATL, SK On, Samsung SDI, ATL, and Panasonic Industrial Materials. Underwriters for the offering included Cantor Fitzgerald & Co., Huatai Securities (USA), CMB International Capital, US Tiger Securities, Fortune Securities, BOCOM International, and VC Brokerage.