Londian Wason’s $2 Billion Valuation Marks Largest Chinese IPO in New York in Over a Year

Copper foil maker Londian Wason New Energy Tech debuted on the New York Stock Exchange with a valuation of $2.01 billion, making it the largest IPO of a Chinese company in the U.S. in more than a year. The Shenzhen-based company’s shares opened at $26 apiece, surpassing their offer price of $22, following a $94.3 million raise in an upsized offering the day before. Despite the success of the first day, experts caution that the U.S. market may not have fully reopened for larger Chinese IPOs due to potential volatility and scarcity premium associated with low float offerings.