Copper foil giant Londian Wason poised to rise in New York debut after $94 million IPO

Londian Wason New Energy Tech

12/08/2026 15:38

** Chinese electrolytic copper foil giant Londian Wason FOIL.N on track to open above offer price in New York debut after upsized $94.3 milion U.S. IPO
** Stock recently indicated to open between $23-$25 apiece vs $22 IPO price
** Shenzhen-based FOIL sold roughly 4.3 million American depositary shares in an upsized IPO  
** FOIL had initially marketed about 3.6 million ADSs priced between $20 and $22 apiece
** The company, whose major backers include South Korea's SK Group 034730.KS and Mirae Asset, sells electrolytic ​copper foil globally and is led by co-CEOs Guanran ​Wang and ⁠Guangling Zhou
** Listing marks biggest New York listing of a Chinese company in more than a year, according to Dealogic data
** Cantor acted as lead book-running manager for offering
** Proceeds will be used to fund global production expansion and facility upgrades, improvements in manufacturing efficiency, expansion of product portfolio and applications, among other purposes

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))