Chinese non-woven fabric and non-surgical mask manufacturer Yingzi (ETZ.US) withdraws IPO in the US.

Chinese nonwoven fabric and non-surgical face mask manufacturer Shanghai Earntz Healthcare Products withdrew its application for an initial public offering (IPO) in the United States last Friday. It was reported that the company had applied to issue 2.5 million shares at a price of $4-5 per share to raise $11 million. The company had planned to list on the Nasdaq under the stock symbol "ETZ". Earntz produces and sells nonwoven fabric and related products through its variable interest entity Shanghai Earntz, primarily disposable non-surgical face masks. The company is also developing hygiene products, including adult diapers and feminine hygiene pads. Its products are mainly used in China's healthcare and related industries. The company was established in 2016. Sales in the 12 months ending December 31, 2023, amounted to $8 million.