Luda Technology Group Prices IPO at $4.00 Per Share (LUD)

Luda Technology Group (LUD) plans to raise $10 million in an initial public offering on Thursday, October 24th, IPO Scoop reports. The company plans to issue 2,500,000 shares at a price of $4.00 per share.

In the last year, Luda Technology Group generated $51.4 million in revenue and $3 million in net income. Luda Technology Group has a market cap of $90 million.

Pacific Century Securities and Revere Securities served as the underwriters for the IPO.

Luda Technology Group provided the following description of their company for its IPO: “We are a manufacturer and trader of stainless steel and carbon steel flanges and fittings products.(Incorporated in the Cayman Islands) Our history began with Luda HK which was incorporated in Hong Kong in 2004 and is principally engaged in the trading of steel flanges and fittings. In 2005, the Company’s business expanded further upstream when Luda PRC was set up to commence the manufacturing of flanges and fittings with self-owned factory in China. We have established an operation history of over 20 years. We are principally engaged in (i) the manufacture and sale of stainless steel and carbon steel flanges and fittings products; and (ii) trading of steel pipes, valves, and other steel tubing products. We are headquartered in Hong Kong with manufacturing base in Taian City, Shandong Province of the PRC. Our sales network comprises customers from China, South America, Australia, Europe, Asia (excluding China) and North America and our customers comprise manufacturers and traders from the chemical, petrochemical, maritime and manufacturing industries. Note: Net income and revenue are for the 12 months that ended Dec. 31, 2023. (Note: Luda Technology Group filed an F-1/A dated Sept.20, 2024, disclosing the terms for its IPO: 2.5 million shares at $4.00 to raise $10.0 million.) “.

Luda Technology Group was founded in 2004 and has 159 employees. The company is located at Unit H, 13/F, Kaiser Estate Phase 2 47-53 Man Yue Street Hung Hom, Kowloon Hong Kong and can be reached via phone at +852 2994 8774 or on the web at http://www.ludahk.com/.