FGI Industries Ltd. (FGI) Announces January 17th IPO

FGI Industries Ltd. (FGI) is planning to raise $18 million in an initial public offering on the week of January 17th, IPO Scoop reports. The company will be issuing 2,500,000 shares at a price of $6.00-$8.00 per share.

In the last year, FGI Industries Ltd. generated $165 million in revenue and $7.6 million in net income. The company has a market-cap of $66.5 million.

The Benchmark Company and Northland Capital Markets acted as the underwriters for the IPO.

FGI Industries Ltd. provided the following description of their company for its IPO: “(Note: FGI Industries Ltd. has pushed back the timing of its IPO pricing to “the week of Jan. 17, 2022,” a delay from its initially scheduled timing of pricing on the evening of Jan. 12, 2022.) We are a leading global supplier of kitchen and bath products. (Incorporated in the Cayman Islands) Over the course of 30 years, we have built an industry-wide reputation for product innovation, quality, and excellent customer service. We are currently focused on the following product categories: sanitaryware (primarily toilets, sinks, pedestals and toilet seats), bath furniture (vanities, mirrors and cabinets), shower systems, customer kitchen cabinetry and other accessory items. These products are sold primarily for repair and remodel (“R&R”) activity and, to a lesser extent, new home or commercial construction. We sell our products through numerous customer partners, including mass retail centers, wholesale and commercial distributors, online retailers and specialty stores. Some of our largest customers include The Home Depot, Menards, Ferguson and Lowe’s.   “.

FGI Industries Ltd. was founded in 1987 and has 130 employees. The company is located at 906 Murray Road East Hanover, NJ 07869 and can be reached via phone at (973) 428-0400 or on the web at http://www.fgi-industries.com/.

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