Chinese steel manufacturer Huadi International files for a $25 million IPO

Huadi International Group, which manufactures steel pipe and tube products in China, filed on Friday with the SEC to raise up to $25 million in an initial public offering.

The Wenzhou, China-based company was founded in 2018 and booked $59 million in sales for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol HUDI. Huadi International Group filed confidentially on November 4, 2019. Craft Capital Management, R.F. Lafferty & Co. and Shengang Securities are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Chinese steel manufacturer Huadi International files for a $25 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

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