Kepuni Holdings, a Chinese manufacturer of nautical communications and electronic equipment, announced terms for its US IPO on Tuesday.
The Taizhou, China-based company plans to raise $25 million by offering 4.2 million shares at a price range of $5.75 to $6. At the midpoint of the proposed range, Kepuni Holdings would command a market value of $83 million.
Kepuni, operating through its VIE Taizhou Kepuni Communication Equipment, is a professional integrator of scheme design, research and development, and sales supporting communication equipment for nautical engineering, as well as ship communication, navigation, driving control, and power distribution. The company uses a build to order business model, providing for flexible order placing. Its recently-developed products include an electrical control system, a nautical main switchboard, a waterproof sound and light alarm, an engine room monitoring station, and a power box.
Kepuni Holdings was founded in 2012 and booked $11 million in sales for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol KPN. Boustead Securities is the sole bookrunner on the deal.
