EvoAir Holdings, a malaysia-based maker of "eco-friendly" HVAC systems, announced terms for its IPO on Thursday.
The Kuala Lumpur, Malaysia-based company plans to raise $9 million by offering 2 million shares at a price range of $4 to $5. At the midpoint of the proposed range, EvoAir Holdings would command a market cap of $131 million.
Evoair Holdings is principally engaged in the development, manufacturing, sale, and marketing of "eco-friendly" heating, ventilation, and air conditioning (HVAC) products for residential, commercial, and industrial uses. The company's HVAC systems utilize proprietary Heat Emission Control System technology, and its product portfolio includes air-conditioner brand EvoAir and portable air-conditioner brand e-Cond EVO. Evoair operates manufacturing facilities in China and Malaysia.
EvoAir Holdings was founded in 2017 and plans to list on the Nasdaq under the symbol EVOH. Network 1 Financial Securities is the sole bookrunner on the deal.
