Copper foil manufacturer Londian Wason New Energy Tech Inc. made its New York Stock Exchange debut on Thursday, opening at $26 per share, 18.18% above its initial public offering price of $22.
The company is trading on the NYSE under the ticker “FOIL.” Its IPO involved approximately 4.3 million American Depositary Shares at $22 each, with a group of seven financial institutions acting as underwriters.
The listing brings a major supplier of a less visible but critical component of the battery and electronics supply chain into the US public markets.
From battery material supplier to NYSE-listed company
Londian Wason manufactures electrolytic copper foil, a thin copper material used in lithium-ion batteries as well as copper clad laminate, or CCL, and printed circuit board applications.
The company said it was the world’s largest supplier of lithium-ion battery copper foil by sales volume in 2025. Its customer base includes manufacturers such as LG Energy Solution, CATL, SK On, Samsung SDI, ATL and Panasonic Industrial Materials.
Its product portfolio extends from ultra-thin battery copper foil to PCB-focused products ranging from HTE to HVLP specifications. Londian Wason also said it is the only copper foil manufacturer globally to have chosen a US public listing.
This enables the IPO to have an industrial perspective in addition to just its first day’s performance. Londian Wason functions at the crossroads of batteries and advanced electronics, industries in which the copper foil is used in the manufacturing process.
IPO proceeds aimed at production, technology and product development
The company plans to direct the net proceeds from the offering primarily toward global production expansion and upgrades, research and development of advanced technologies, improvements in manufacturing processes and a broader range of products and applications. A portion is also intended for general corporate purposes.
Harvest Global Capital Investments Limited and Hithium Global Pte. Ltd. were named as cornerstone investors in the IPO.
Chairman and Co-Chief Executive Officer Wang Guanran said the company intends to use its position following the IPO to continue expanding key product lines, including ultra-thin and high-tensile-performance battery foil and VLP, RTF and HVLP copper foil products for high-end CCL and PCB customers.
He also described the NYSE listing as an important milestone in bringing a China-originated business with South Korean and Japanese shareholders and customers into the global capital markets.
Revenue more than doubled in the March quarter
The listing follows a sharp improvement in Londian Wason’s recent financial performance.
For the three months ended March 31, 2026, the company recorded revenue of RMB 4.07 billion, equivalent to $582.4 million, representing year-on-year growth of approximately 113.71%.
More importantly for the company’s profitability profile, Londian Wason reported a net profit of RMB 134.5 million, or $19.2 million, compared with a net loss in the corresponding quarter a year earlier.
The figures give the NYSE debut a different backdrop from a listing built mainly around future growth expectations. Londian Wason entered the public market after reporting both a substantial rise in quarterly revenue and a return to profit.
Seven firms worked on the offering
The IPO was underwritten by Cantor Fitzgerald & Co., Huatai Securities (USA), Inc., CMB International Capital Limited, US Tiger Securities, Inc., Fortune Securities, BOCOM International and VC Brokerage Limited.
With its shares opening above the offer price, Londian Wason’s first trading session placed immediate attention on the company’s public-market valuation. The longer-term focus, however, is likely to rest on how effectively it converts IPO capital into additional production capacity, advanced copper foil technology and a wider product mix across battery and electronics applications.
For a company whose products sit deep inside batteries and circuit boards rather than in front of consumers, the FOIL ticker gives Londian Wason an unusually direct public identity for its core business.
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