Zhongjin Ke Industrial (ZJK.US) raised the IPO size and planned to raise USD 6 million.

Market VisionThursday, Jul 25, 2024 3:20 am ET

1min read

On Friday, ZJK Industrial Co., Ltd., a Chinese manufacturer focused on producing precision fasteners and other electronic device parts, raised the proposed size of its upcoming IPO.

ZJK Industrial currently plans to issue 1.3 million shares at a price range of $4 to $6 per share, raising $6 million. The company previously applied to issue 1 million shares at the same price.

At the midpoint of the proposed price range, ZJK Industrial would raise 25% more than previously expected. The IPO shares represent only 2.0% of the issued basic shares.

ZJK Industrial operates through its Chinese consolidated subsidiaries and specializes in the manufacturing and sales of precision fasteners, structural parts and other precision metal products for new energy vehicles and smart electronic devices (such as smartphones, smartwatches, drones and 5G base stations).

The company produced approximately 4.4 billion precision metal parts in 2023. Its customers include companies and their original equipment manufacturers in the consumer electronics and new energy vehicle industries.

ZJK Industrial's 12-month revenue as of December 31, 2023 was $29 million. The company plans to list on the Nasdaq under the symbol ZJK. Revere Securities is the sole bookrunning manager for the transaction.

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