We advised Londian Wason on its IPO and NYSE listing

Davis Polk advised Londian Wason New Energy Tech Inc. on its SEC-registered initial public offering of 4,285,714 American depositary shares (ADSs), with total proceeds of approximately $94.3 million. Each ADS represents five ordinary shares of Londian. The company has granted the underwriters an option to purchase up to an additional 642,857 ADSs. The ADSs are listed on the NYSE under the symbol “FOIL.”

Londian is a leading global company engaged in the research, development and manufacturing of electrolytic copper foil. According to the Frost & Sullivan Report, Londian was the world’s largest supplier of lithium-ion battery copper foil, or LiB copper foil, by sales volume in 2025, with a global market share of 7.6%. Londian mainly offers LiB copper foil and PCB-grade copper foil and offers FCCLs (Flexible Copper Clad Laminates) to a lesser extent. Its products are used in electric vehicles, energy storage systems, communication equipment, consumer electronics and other applications. Londian serves customers in China and overseas, including leading lithium-ion battery and electronic circuit manufacturers such as LG Energy Solution, Panasonic Industrial Materials, SK On, Samsung SDI, ATL, CATL, BYD and Sunwoda.

The Davis Polk corporate team included partner - registered foreign lawyer Li He, partner Ran Li, counsel Haiyang Zhao, registered foreign lawyer Jed Rothstein and associate Edwin Lee. Counsel Alon Gurfinkel and associate Kelli A. Rivers provided tax advice. Associates Amanda Cohen and Saloni Pant provided 1940 Act advice. Members of the Davis Polk team are based in the Hong Kong, Beijing, London and New York offices.

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