Li Bang International Corporation Inc. announced the closing of its initial public offering on October 24, 2024. The company sold 1,520,000 ordinary shares at a public offering price of US$4.00 per share, generating aggregate gross proceeds of US$6.08 million before deducting underwriting discounts and other related expenses.
The company's ordinary shares commenced trading on the Nasdaq Capital Market on October 23, 2024, under the ticker symbol 'LBGJ'. This listing provides Li Bang International with increased visibility and access to a broader investor base.
Net proceeds from the offering are designated for strategic investments. These include plant construction, equipment procurement, advertising and marketing efforts, research and development activities, and general working capital to support the company's operational expansion and growth initiatives.
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