Aster revives Nasdaq IPO plans
April 25, 2023
The Aster holding company, Planet Image International, has filed a revised blank IPO plan with a new lead manager.
Planet Image International, the Cayman Islands holding company of Aster, filed a revised blank IPO with the U.S. Securities and Exchange Commission on 17 April 2023.
In March 2022, The Recycler reported that the company filed an IPO share offer in the range of $4.0 to $5.0 (€3.6 to €4.5) to raise $27 million (€24.5 million) primarily to fund the building of a new multi-storey production centre at their Yibo industrial park.
The expansion would increase the annual production capacity from approximately 27.7 million toner cartridges per year to about 57.8 million toner cartridges by December 2025.
According to the IPO prospectus last year (2022), they generated 54% of their sales in North America and 40% in Europe.
Planet Image International has also replaced Network 1 Financial with Tiger Brokers as the sole underwriter for the deal. The blank IPO may also indicate that it will raise more funds through the placement.
Categories : City News
