Leishen Energy Holding Co. (LSE) of China priced its micro-cap IPO at $4.00 – the low end of its $4.00-to-$5.00 price range – and sold 1.375 million shares – the number of shares in the prospectus – to raise $5.5 million. At pricing, Leishen Energy had a market cap of $67.5 million. Leishen Energy’s stock opened at $4.25 – up 25 cents from its IPO price – at 10:45 a.m. EST today – Thursday, Dec. 19, 2024 – on the NASDAQ on volume of 261,564 shares.
Dominari Securities served as the sole book-runner. Revere Securities acted as the co-manager.
Leishen Energy Holding, based in Beijing, conducts almost all of its business through its 12 operating subsidiaries in China. Leishen Energy provides oil and gas companies with equipment, including compressor units, wellhead heating systems and oil-water separation systems, and services such as equipment leasing, the design and customization of pressurization gas injection units, maintenance services, and marketing of liquefied natural gas (LNG), according to the prospectus.
Leishen Energy is profitable. For the 12 months that ended March 31, 2024, Leishen Energy had net income of $13.07 million on revenue of $83.73 million.
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