China's copper foil manufacturer Longdian Huaxin plans to go public in the United States.

According to informed sources, Chinese copper foil manufacturer Londian Wason Energy Tech is planning to IPO in the United States. The sources revealed that the company is collaborating with Citigroup and Goldman Sachs on the preparations for the listing. It is reported that Londian Wason Energy Tech aims to raise around $500 million through the IPO and a pre-IPO financing round. One of the sources mentioned that the company may be listed as early as next year. Headquartered in Shenzhen, Londian Wason Energy Tech benefits from the strong growth in demand for electric vehicle batteries, with its copper wire being a part of the batteries. The company supplies to major electric vehicle battery manufacturers such as Contemporary Amperex Technology and BYD Company Limited. The sources stated that discussions regarding the IPO are still ongoing, and details such as the scale and timing may be subject to change. Citigroup did not immediately respond to requests for comment from reporters. Spokespersons from Goldman Sachs and Citigroup declined to comment. Existing shareholders of Londian Wason Energy Tech include SK Corporation, which holds approximately 30% of the shares.