Leishen Energy Prices IPO Of 1.38 Mln Shares At $4.00/shr

(RTTNews) - Leishen Energy Holding Co., Ltd. (LSE), a China-based provider of clean-energy equipment and integrated solutions for the oil and gas industry, said that it has priced its initial public offering of about 1.38 million ordinary shares at a public offering price of $4.00 per Share.

The Shares are expected to commence trading on the Nasdaq Capital Market on December 19, 2024, under the ticker symbol LSE.

The Company expects to receive aggregate gross proceeds of $5.50 million from the Offering, before deducting underwriting discounts and commissions and offering expenses payable by the Company. In addition, the company has granted the underwriters a 45-day option to purchase up to an additional 206,250 Shares at the public offering price, less the underwriting discount.

The company plans to use the net proceeds of the Offering for the construction of a high-tech manufacturing industrial park in the Nanjing Lishui High-tech Development Zone, PRC, for the establishment of its smart manufacturing and new energy R&D center, for the purchase of business equipment and other patented technologies, to strengthen and expand presence in the PRC Southwest oil and gas market, and to bolster its working capital.

The Offering is expected to close on December 20, 2024.