Chinese automotive rubber and plastic seal supplier Ruiboli (RLEA.US) has reduced the size of its IPO by 20% and plans to raise $20 million.

Chinese automotive rubber and plastic seal supplier Rubber Leaf (RLEA.US) on Tuesday lowered the size of its upcoming initial public offering (IPO). The Hong Kong-based company now plans to issue 5 million shares at $4 per share to raise $20 million. The company had previously filed to issue 6.3 million shares at the same price. With the revised offering size, Rubber Leaf's fundraising amount will decrease by 20% from previous expectations, with a market value of $184 million (down 3% from previous terms) and an enterprise value of $167 million. Rubber Leaf primarily operates through its subsidiary Rubber Leaf Seals (Zhejiang) Co., Ltd., focusing on the production and sale of automotive rubber and plastic seals. Rubber Leaf is a supplier to several major automotive original equipment manufacturers, including eGT New Energy Automotive (a joint venture between Dongfeng, Renault, and Nissan) and Volkswagen. Established in 2011, Rubber Leaf generated $5 million in revenue in the 12 months leading up to December 31, 2025. The company plans to list on the NASDAQ under the ticker symbol RLEA, with Prime Number Capital serving as the sole bookrunner.