China Intelligent Lighting and Electronics, which manufactures LED and other lighting products for household, commercial and outdoor usage, raised the proposed deal size for its upcoming IPO on Tuesday. The Guangdong-based company now plans to raise $21 million by offering 3.5 million shares at a price range of $5.50-$6.50; it had previously filed to offer 2.5 million shares at a range of $3-$4. At the mid-point of the revised range, China Intelligent Lighting will raise 140% greater proceeds than previously anticipated. The lighting company, which was founded in 2007 and booked $49 milion in sales for the twelve months ended September 30th, 2009, plans to list on the NYSE under the symbol CIL. Rodman & Renshaw and Westpark Capital are the lead underwriters on the deal, for which pricing was not disclosed.
