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Lizhan Environmental prices IPO at $4, below the revised range

November 19, 2010

Lizhan Environmental Corporation, which sells synthetic leather to furniture, automotive upholstery and garment manufacturers, raised $10 million by offering 2.5 million shares at $4, at the high end of its original range of $3-$4 but below its revised range of $5-$6. Lizhan Environmental Corporation plans to list on the NYSE today under the symbol LZEN. Maxim Group LLC acted as lead manager on the deal.