China Intelligent Lighting and Electronics, which manufacturers LED and other products for household, commercial and outdoor lighting industries, filed and announced terms for its IPO on Tuesday. The Guangdong-based company plans to raise $9 million by offering 2.5 million shares at a price range of $3-$4. At the mid-point of the proposed range, China Intelligent Lighting will command a market value of $78 million. The lighting products manufacturer, which was founded in 2007 and booked $49 million in sales over the last 12 months, plans to list on the NYSE Amex under the symbol CIL. Westpark Capital is the lead underwriter on the deal. Pricing terms and timing were not disclosed.
