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Lindian Wason's US IPO Begins Well
Lydian Wason New Energy Technology, a company specialized in manufacturing copper chips, launched its first initial public offering in the United States in over a year, with a market capitalization of approximately $2.01 billion. The company's shares, which are based in Shenzhen, opened at $26 per share after raising $94.3 million from the sale, exceeding the $22 offering price due to an expanded offering size. The news indicates that this performance reflects the growing demand for copper chips used in electric vehicle batteries and artificial intelligence technology. This occurs amid a deteriorating Chinese market caused by tensions between Washington and Beijing and strict regulations, with a low free float which could lead to future stock price volatility.
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