Chinese automotive rubber parts manufacturer Ruiboli (RLEA.US) increases IPO size by 25%, aiming to raise $25 million.

Chinese automotive rubber and plastic sealing strip supplier Rubber Leaf (RLEA.US) increased the planned size of its upcoming initial public offering (IPO) on Monday. The company is currently listed on the OTC market under the ticker symbol "RLEA" and is planning to list on Nasdaq. The company now plans to offer 6.3 million shares at $4 per share, raising $25 million. In its previously submitted IPO application, the company planned to offer 5 million shares at the same price. With the revised offering size, Rubber Leaf's fundraising will increase by 25% compared to previous expectations, and its market value will reach $189 million (a 3% increase from previous expectations). Rubber Leaf operates primarily through its subsidiary Rubber Leaf Sealing Products, specializing in the production and sales of automotive rubber and plastic sealing strips. Rubber Leaf is a supplier to several major automotive original equipment manufacturers (OEMs), including Yijie Special New Energy Vehicles and Volkswagen. Founded in 2011, Rubber Leaf had a revenue of $8 million for the 12 months ending March 31, 2026. Prime Number Capital is the sole underwriter for this transaction. In its initial IPO application submitted in April 2024, Rubber Leaf planned to offer 1.6 million shares at a price range of $4 to $6 per share.