The IPO Buzz: China’s Londian Wason (FOIL Proposed) Is the Only IPO This Week

Londian Wason New Energy Tech (FOIL Proposed) of China is the only IPO set to price in the second week of August. This shows that IPO bankers are ready for the late summer slowdown, which traditionally runs from mid-August until after Labor Day. Londian Wason, one of the world’s largest producers of copper foil for lithium batteries used in electric vehicles (EVs), is going public through an ADS deal that intends to raise $75 million. This is a New York Stock Exchange listing.

Cantor and Huatai Securities are leading Londian Wason’s joint book-running team, which includes CMB International and US Tiger Securities.

 A $100 million SPAC IPO – Southern Cross Acquisition II (SCATU Proposed) – is also on this week’s IPO Calendar. D. Boral Capital is the sole book-runner. There’s also a closed-end fund, Robinhood Ventures Fund II  (RVII Proposed), which plans to raise $200 million in its IPO. (IPOScoop does not cover closed-end funds This deal is mentioned strictly as a courtesy to our subscribers.)

Altogether, IPO bankers are set to raise $375 million this week – down sharply from last week’s roster of about $972 million in deals.

Londian Wason’s Electric Avenue  

China approved Londian Wason New Energy Tech’s IPO last December.That was the   first step of Londian Wason’s trip from its hometown, Shenzhen, to the corner of Broad & Wall in New York. The company is set to trade under the proposed symbol “FOIL”  on the NYSE. The IPO is expected to price on Tuesday night, Aug. 11, 2026, to trade Wednesday, Aug. 12.

In addition to producing copper foil for EV lithium batteries, Londian Wason serves clients involved in 5G communications, consumer electronics and energy storage.

Londian Wason is offering 3.57 million American Depositary Shares (ADS) at a price range of $20.00 to $22.00 to raise $75 million – if priced at the $21.00 mid-point of its range. Each ADS equals five ordinary shares, the prospectus said.

At pricing, Londian Wason would have a market cap of $1.63 billion – if the ADS deal is priced at $21.00, its mid-point. 

Londian Wason said its clientele includes big battery makers such as CATL, BYD, LG Energy Solution, Samsung SDI and Panasonic. Londian Wason’s factories are in China and Malaysia.

Londian Wason is profitable: Net income of $2.9 million on revenue of $1.6 billion for the 12 months that ended on Dec. 31, 2025, according to the prospectus.

New York SPAC with China Ties

Southern Cross Acquisition II Corp. (SCATU Proposed) – a $100 million SPAC IPO –  said it may pursue opportunities in China. The New York-based SPAC’s top managers have extensive ties to China, according to the prospectus.  (Please see our IPO Calendar for the pricing date.) D. Boral Capital is the sole book-runner.

Southern Cross Acquisition II is offering 10 million units at $10.00 each. Each unit consists of one share, one redeemable warrant and one right to receive one-fourth of a share upon the consummation of the initial business combination. This is a NASDAQ listing.

Robinhood’s Silicon Valley Play

Robinhood Ventures Fund II (RVII Proposed) is a closed-end fund based in Menlo Park, California, in the heart of Silicon Valley. It’s about 1.4 miles from the main entrance to the Stanford campus. Robinhood Ventures Fund II is offering 8 million shares at $25.00 each to raise $200 million in its IPO. Of the 8 million shares in the IPO, Robinhood is offering 400,000 shares. This is a New York Stock Exchange listing. The deal is set to price on Wednesday night, Aug. 12, 2026.

Goldman Sachs is leading the  joint book-running team. Citigroup, J.P. Morgan, UBS and Wells Fargo Securities are also joint book-runners.

Robinhood Ventures Fund II plans to invest in Y Combinator-backed companies –  both early-stage and growth companies. This target group will include companies with  current or former backing from Y Combinator , a startup  accelerator program. (Click on the hyperlink in the company’s name for a link to the RetailRoadShow.)

Stay tuned.

Source: https://www.iposcoop.com/the-ipo-buzz-chinas-londian-wason-foil-proposed-is-the-only-ipo-this-week/