ZJK Industrial, a Chinese manufacturer of precision fasteners and other parts for electronic devices, raised the proposed deal size for its upcoming IPO on Wednesday.
The Shenzhen, China-based company now plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. The company had previously filed to offer 1 million shares at the same range. At the midpoint, ZJK Industrial will raise 25% more in proceeds than previously anticipated. The IPO float is just 2.0% of basic shares outstanding.
Operating through its consolidated subsidiaries in the PRC, ZJK specializes in the manufacturing and sale of precision fasteners, structural parts, and other precision metal products for new energy vehicles and intelligent electronic equipment, such as mobile phones, smart watches, drones, and 5G communication base stations. The company produced approximately 4.4 billion precision metal parts in 2023. Its customers include enterprises and their original equipment manufacturers in the consumer electronic and new energy vehicle industries, among others.
ZJK Industrial was founded in 2011 and booked $29 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol ZJK. Revere Securities is the sole bookrunner on the deal.
