Key facts
- Londian Wason New Energy Tech debuted on the NYSE with a valuation of $2.01 billion.
- The company raised $94.3 million in its IPO.
- Shares opened at $26, exceeding the initial offer price of $22.
- This marks the largest IPO for a Chinese company in the U.S. in over a year.
- Londian Wason produces materials for electric vehicles, 5G communications, and energy storage.
Londian Wason New Energy Tech, a Chinese copper foil manufacturer, debuted on the New York Stock Exchange with a valuation of $2.01 billion. The company raised $94.3 million in its offering, with shares opening at $26, above the initial offer price of $22. This marks the largest IPO of a Chinese company in the U.S. in over a year, a significant event given the recent decline in such listings due to escalating U.S.-China tensions and increased regulatory scrutiny.
The Shenzhen-based firm produces materials crucial for electric vehicles, 5G communications, and energy storage systems, including lithium battery copper foil. The rising demand for EVs and AI infrastructure has boosted the consumption of copper foil. IPOX Research noted Londian Wason's appeal stems from its reported first-place global ranking in the battery copper foil market with a 7.6% share.
However, the company's revenue is concentrated, with its five largest customers accounting for approximately 64% of its total revenue in 2025. Key clients include LG Energy Solution, Samsung SDI, Panasonic Industrial Materials, and BYD. According to its filing, Chairman and co-CEO Guanran Wang will control about 52% of the company's voting power.