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Stick a fork in it: Fuling Global decreases proposed IPO deal size

Fuling Global, a Chinese producer of disposable plastic cutlery and other food service products, lowered the proposed deal size for its upcoming IPO on Friday.

The Wenling, China-based company now plans to raise $25 million by offering 5 million shares at a price of $5. The company had previously filed to offer 5 million shares at a range of $5 to $7. At the midpoint of the revised range, Fuling Global will raise -17% fewer proceeds than previously anticipated.

Fuling Global, which was founded in 1992 and booked $91 million in sales for the 12 months ended June 30, 2015, plans to list on the Nasdaq under the symbol FORK. Burnham Securities is the sole bookrunner on the deal. It is expected to price during the week of October 5, 2015.

The article Stick a fork in it: Fuling Global decreases proposed IPO deal size 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, the Renaissance IPO ETF (symbol: IPO) or the Global IPO Fund (symbol: IPOSX) , may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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