The IPO Buzz: Lianhe Sowell International Group (LHSW) Prices IPO at $4 – Low End
R.F. Lafferty served as the sole book-runner.
The Shenzhen, China-based company intends to use the IPO’s net proceeds to invest in its machine vision business as well as to expand its spray painting robot business and fund research and development (R&D) as well as for other general corporate purposes, according to the prospectus. The holding company is incorporated in the Cayman Islands.
“We invent and integrate technologies and solutions that address some of the most critical manufacturing and distribution challenges, such as precision and accuracy required in the manufacturing of electronic products,” Lianhe Sowell International Group said in the prospectus.
The company is profitable, according to financial statements in the prospectus. Lianhe Sowell International Group reported net income of $2.82 million and revenue of $36.6 million for the fiscal year that ended March 31, 2024.
Source: https://www.iposcoop.com/the-ipo-buzz-lianhe-sowell-international-group-lhsw-prices-ipo-at-4-low-end/
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