Wenzhou China based Huadi International Group plans to raise USD 25 million by offering 3.1 million shares at a price of USD 8. At the proposed deal size, Huadi International Group would command a market value of USD 106 million. It plans to list on the NASDAQ under the symbol HUDI. Craft Capital Management, R.F Lafferty & Co and Shengang Securities are the joint bookrunners on the deal. It is expected to price in December of this year. The company engages Ortoli Rosenstadt LLP as US Securities Counsel and Briggs & Veselka Co as Independent Auditor.
Founded in 2018, Huadi is a manufacturer of industrial stainless steel seamless pipes and tube products with extensive distribution facilities spread throughout twenty provinces in China. The company offers a broad range of products across various industrial sectors, with its main business coming from oil and gas, automotive, and electric energy. It also exports to twenty countries and regions worldwide, with sales to the US, Mexico, Thailand, Australia, Argentina, Taiwan, India, the Philippines, UAE and Canada.