HUHUTECH International Group, which provides high-purity process systems and factory management solutions, announced terms for its IPO on Wednesday. The company had originally filed in March 2023, but did not meet our minimum $50 million market cap requirement.
The Wuxi, China-based company plans to raise $6 million by offering 1.3 million shares at a price range of $4 to $6. At the midpoint of the proposed range, HUHUTECH International Group would command a market value of $106 million.
Operating through subsidiaries in China and Japan, HUHUTECH provides process and control systems as well as factory management solutions for industrial clients, primarily semiconductor and electronics manufacturers. Its core offerings include high-purity gas and chemical conveyor systems, which ensure the delivery of contaminant-free gases and chemicals crucial for semiconductor production. HUHUTECH also develops comprehensive factory monitoring solutions that integrate various subsystems to provide centralized control and management of manufacturing facilities.
HUHUTECH International Group was founded in 2015 and booked $17 million in revenue for the 12 months ended December 31, 2023. It plans to list on the Nasdaq under the symbol HUHU. Craft Capital Management is the sole bookrunner on the deal.
