Zhongjinke Industry (ZJK.US) increases IPO size, planning to raise 6 million US dollars.

On Friday, ZJK Industrial Co., Ltd., a Chinese manufacturer specializing in the production of precision fasteners and other electronic device components, increased the proposed transaction size for its upcoming IPO. ZJK Industrial currently plans to issue 1.3 million shares of stock at a price of $4 to $6 per share, raising $6 million. The company had previously applied to issue 1 million shares at the same price. Based on the midpoint of the proposed price range, ZJK Industrial will raise 25% more revenue than previously expected. The IPO float will only account for 2.0% of the issued common stock. ZJK Industrial operates through its consolidated subsidiaries in China, specializing in the manufacturing and sale of precision fasteners, structural components, and other precision metal products for new energy vehicles and smart electronic devices (such as mobile phones, smart watches, drones, and 5G communication base stations). The company produced approximately 4.4 billion precision metal parts in 2023. Its customers include enterprises in industries such as consumer electronics and new energy vehicles, as well as their original equipment manufacturers. ZJK Industrial had revenues of $29 million for the 12 months ending December 31, 2023. The company plans to list on the Nasdaq under the ticker symbol ZJK. Revere Securities is the sole bookrunner for this transaction.