Li Bang International Corporation Inc. (LBGJ) to Raise $9 Million in IPO

Li Bang International Corporation Inc. (LBGJ) expects to raise $9 million in an initial public offering (IPO) on Wednesday, October 23rd, IPO Scoop reports. The company will be issuing 1,600,000 shares at a price of $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. has a market cap of $102.3 million.

Craft Capital Management and EF Hutton served as the underwriters for the IPO.

Li Bang International Corporation Inc. provided the following description of their company for its IPO: “Li Bang International Corporation Inc.  was incorporated in the Cayman Islands on July 8, 2021. We conduct all of our operations in China through our Operating Subsidiaries in China. (Incorporated in the Cayman Islands)  The main business of our Operating Subsidiaries is to design, develop, produce and sell stainless steel commercial kitchen equipment in China under our own “Libang” brand. Additionally, our Operating Subsidiaries provide customers with comprehensive services ranging from commercial kitchen design in the early stage to equipment installation and after-sales maintenance. Our Operating Subsidiaries offer a range of commercial kitchen accessories covering steaming, cooking, baking, frying, disinfection, conditioning, refrigeration, and so on, in 13 series with more than 80 varieties, as well as stainless steel kitchen equipment, cooking and food preparation instruments, hotel supplies, and kitchen appliance accessories of more than 300 varieties. These products are used by a wide variety of customers such as governments, businesses, and public institutions. Additionally, our Operating Subsidiaries customize special products according to any customer’s project needs.  Our cookers include stoves, stir-fry stoves, steaming cabinets, and soup pots which are used in all kinds of commercial kitchens. We also make fume and fresh air supply pipe systems as well as a waste processor. Our production plant in China is more than 10,000 square meters. We use modern production facilities and state-of-the-art procedures. Furthermore, as a new technology enterprise in Jiangsu Province, we fall within the scope of advanced technology enterprises that benefit from key national support for residential companies that employ continuous R&D activities and transformational technical achievements to form core independent intellectual property rights.  Our Operating Subsidiaries mainly undertake projects of middle- and high-end customer groups by bidding on contracts. Our customer base consists of international hotels, companies, public institutions, educational institutions, hospitals and other facilities. **Note: Net loss and revenue are for the 12 months that ended Dec. 31, 2023. (Note: Li Bang International Corp. named Craft Capital Management and EF Hutton as its joint book-runners, replacing WestPark Capital, in an F-1/A filing dated Aug. 23, 2024, for its small-cap IPO. Background: In an F-1/A filing dated June 18, 2024, Li Bang International Corp.  cut its IPO’s size to 1.6 million shares – down from 5.0 million shares – and changed the price range to $5.00 to $6.00 – compared with $4.00 to $6.00 previously – to raise $8.8 million. Li Bang also said in the June 18, 2024, filing that the assumed IPO price is $5.00, the low end of the range; at that price, the IPO would raise $8.0 million.) (Background: Li Bang International Corporation Inc. changed its sole book-runner to WestPark Capital – replacing Univest Securities – and updated its financial statements for the year that ended June 30, 2022, in an F-1/A filing dated June 1, 2023. Background: Li Bang International Corporation Inc. revised its IPO with a price range of $4.00 to $6.00 – with the low end of that range below its previous assumed IPO price of $5.00 and the high end of the range exceeding the previous assumed IPO price – while keeping the deal’s size at 5 million shares, according to an F-1/A filing dated Sept. 16, 2022. Li Bang International filed its F-1 on Jan. 27, 2022.)   “.

Li Bang International Corporation Inc. was founded in 2007 and has 128 employees. The company is located at No. 190 Xizhang Road, Gushan Town, Jiangyin City, Jiangsu Province People’s Republic of China and can be reached via phone at +86 0510-81630030 or on the web at http://www.libangco.cn/.