FOIL IPO Raises $94.3M, Shares Surge 11% on NYSE Debut

Chinese copper foil maker FOIL lists on NYSE, raising $94.3M in largest Chinese US IPO since April. Stock gains 11.36% on debut day.

Woofun AI reports that FOIL, a Shenzhen-headquartered copper foil manufacturer, completed its listing on the New York Stock Exchange on August 13. The company raised $94.3 million through the offering, marking the largest initial public offering by a Chinese entity in the United States since Chaji last April.

FOIL shares appreciated 11.36% during the first trading session and added a further 6.12% later, closing at $26. The firm supplies materials for electric vehicles and 5G communications, holding an estimated 7.6% share of the global battery copper foil market.