Wednesday, October 16, 2024
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LBGJ to raise $9M in IPO

Li Bang International Corporation Inc. (LBGJ) plans to raise $9 million in an initial public offering on Wednesday, October 23rd, IPO Scoop reports. The company will issue 1,600,000 shares at $5.00-$6.00 per share. In the last year, Li Bang International Corporation Inc. generated $9.7 million in revenue and had a net loss of $1.3 million. [...]

Li Bang International Corporation Inc. earned $9.7 million in revenue but incurred a net loss of $1.3 million in the past year. The company’s market capitalization stands at $102.3 million.

Craft Capital Management and EF Hutton are the underwriters for the IPO.

Li Bang International Corporation Inc. was established in the Cayman Islands on July 8, 2021, and operates in China. The company designs, develops, produces, and sells stainless steel commercial kitchen equipment under the “Libang” brand. They offer services from kitchen design to equipment installation and maintenance. Their product range includes over 300 varieties of kitchen equipment and accessories for cooking, baking, refrigeration, and more, serving clients like hotels, hospitals, and public institutions.

As a noted technology enterprise in Jiangsu Province, they perform R&D activities to maintain independent intellectual property rights. The company operates projects mainly for mid to high-end clients through contract bidding. They have a production facility of over 10,000 square meters in China.

Li Bang was founded in 2007 and employs 128 people. The company is located at: No. 190 Xizhang Road, Gushan Town, Jiangyin City, Jiangsu Province, China. You can contact them at +86 0510-81630030 or visit their website at libangco.cn.

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