J-Star Holding, a Taiwan-based maker of carbon fiber parts for bicycles, rackets, and other goods, raised the proposed deal size for its upcoming IPO on Friday.
The Taichung, Taiwan-based company now plans to raise $22 million by offering 5.4 million shares at $4. The company had previously filed to offer 5.3 million shares at the same price, and originally filed to offer 3.8 million shares. At the revised offering, J-Star Holding will raise 2% more in proceeds than previously anticipated and command a market value of $85 million.
Operating under the name YMA, the company produces carbon reinforcement and resin systems, which it uses in variety of lightweight, high-performance carbon composite products. J-Star Holding primarily generates revenue through sales of bicycle parts and racket parts, as well as other products including structural parts for automobiles, sporting goods, and healthcare products.
J-Star Holding was founded in 1970 and booked $31 million in sales for the 12 months ended December 31, 2021. It plans to list on the Nasdaq under the symbol YMAT. ViewTrade is the sole bookrunner on the deal.
