Chinese copper producer Xinxu Copper Industry (XXC.US) has increased its IPO size by 144% to raise $17 million.

Chinese copper and copper alloy products manufacturer XinXu Copper Industry (XXC.US) increased the planned size of its upcoming IPO on Monday. The company, headquartered in Wuhu, China, is now planning to issue 3 million shares of stock with an offering price range of $5 to $6 per share, raising $17 million. The company had previously filed for an IPO to issue 1.5 million shares of stock with an offering price range of $4 to $5 per share. Based on the revised offering price range, XinXu Copper Industry Technology's fundraising will increase by 144% compared to previous expectations, with an estimated market value of $127 million. Through its operating subsidiary Anhui XinXu, the company is mainly engaged in the research and development, manufacturing and processing, sales, and distribution of copper and copper alloy products. Products include T2 red copper rods, T2 tin-plated copper rods, T2 copper rods, electrolytic copper, aluminum bars, etc. The company's revenue for the twelve months ended December 31, 2024, was $123 million. The company plans to list on the NASDAQ with the stock code XXC. Craft Capital Management and R.F. Lafferty & Co. are the joint bookrunners for this transaction.