July 2 (Reuters) – Chinese copper foil maker Londian Wason Energy Tech filed for an initial public offering in the United States on Thursday, seeking to capitalize on growing demand from electric vehicle makers.
The U.S. IPO market is approaching levels last seen three years ago, with some sizable deals launching as new issuers tap buoyant equity markets while investors navigate a pipeline of closely watched offerings.
According to Renaissance Capital, a provider of IPO-focused research and ETFs, the second quarter would have been the largest for IPO proceeds since 2021, even without SpaceX’s record-shattering offering.
The filing follows last month’s U.S. debut by China’s DSC Holdings, signaling a tentative return of Chinese issuers to U.S. equity markets after years of geopolitical tensions between Washington and Beijing curbed such listings.
Londian said it was the world’s largest supplier of lithium-ion battery (LiB) copper foil by sales volume in 2025, with a 7.6% global market share, citing a report from Frost & Sullivan.
The Shenzhen-based company reported a net profit of 134.5 million Chinese yuan ($19.81 million) on revenue of 4.07 billion yuan for the three months ended March 31, 2026, compared with a net loss of 68.4 million yuan on revenue of 1.91 billion yuan a year earlier.
South Korea’s SK Group owns 29.5% of Londian through its wholly owned unit Golden Pearl EV Solutions.
The company plans to use the proceeds for global production expansion, research and development and for general corporate purposes.
Londian intends to list its shares on the NYSE. Cantor, Huatai Securities, CMB International and US Tiger Securities are the lead underwriters for the offering.
($1 = 6.7886 Chinese yuan renminbi)
(Reporting by Pragyan Kalita in Bengaluru; Editing by Vijay Kishore)
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