Core Viewpoint - Li Bang International Corporation Inc. is pricing its initial public offering (IPO) of 1,520,000 ordinary shares at US$4.00 per share, aiming to raise approximately US$6.08 million before expenses, with trading expected to commence on October 23, 2024, under the ticker symbol "LBGJ" [1][2]. Group 1: Offering Details - The IPO consists of 1,520,000 ordinary shares priced at US$4.00 each, with expected gross proceeds of US$6.08 million [1]. - Underwriters have a 45-day option to purchase an additional 228,000 shares, representing 15% of the shares sold in the offering [1]. - The offering is expected to close on or about October 24, 2024, subject to customary closing conditions [1]. Group 2: Use of Proceeds - Net proceeds from the offering will be allocated for plant construction, equipment procurement, advertising and marketing, research and development, and general working capital [2]. Group 3: Company Overview - Li Bang International Corporation Inc. specializes in the design, development, production, and sale of stainless steel commercial kitchen equipment in China [5]. - The company aims to provide comprehensive services from early-stage design to installation and after-sales maintenance, focusing on innovation and high quality [5]. - The long-term vision of the company is to establish itself as a household name in the commercial kitchen appliance sector in China [5].
Li Bang International Corporation Inc. Announces Pricing of Initial Public Offering