J-Star Holding Co., Ltd. (YMAT) to Raise $6 Million in IPO

J-Star Holding Co., Ltd. (YMAT) is planning to raise $6 million in an initial public offering on the week of September 9th, IPO Scoop reports. The company will be issuing 1,300,000 shares at $4.00-$5.00 per share.

In the last 12 months, J-Star Holding Co., Ltd. generated $23.8 million in revenue and $1.4 million in net income. J-Star Holding Co., Ltd. has a market-cap of $76.6 million.

Maxim Group served as the underwriter for the IPO.

J-Star Holding Co., Ltd. provided the following description of their company for its IPO: “As a holding company with no material operations of our own, our operations are conducted through our subsidiaries in the People’s Republic of China (the “PRC”), Taiwan, Hong Kong and Samoa, with our headquarters in Taiwan, and such structure involves unique risks to investors, as the Chinese government may exercise significant oversight and discretion over the conduct of our business and may intervene in or influence our operations at any time. (Incorporated in the Cayman Islands)  Our Predecessor Group was established in 1970 and we have accumulated over 50 years know-how in material composite industry. We develop and commercialize the technology on carbon reinforcement and resin systems. With decades of experience and knowledge in composites and materials, we are able to apply our expertise and technology on designing and manufacturing a great variety of lightweight, high-performance carbon composite products, ranging from key structural parts of electric bicycles and sports bicycles, rackets, automobile parts to healthcare products. According to the industry report commissioned by us and prepared by Frost & Sullivan, we are one of the major global leading players in the carbon fiber bicycle parts industry and carbon fiber racket parts industry. We primarily generate revenue through three divisions and revenue streams, namely (i) sales of bicycles parts of sports bicycle and electric bicycle; (ii) sales of rackets for use in tennis, badminton, squash and beach tennis; and (iii) sales of other products, which mainly include structural parts of automobile, other sporting goods and healthcare products. Our bicycle parts and rackets are mainly supplied directly or indirectly to branded customers located in Switzerland, France, Italy, the Netherlands, Germany and Japan and they market and distribute their products worldwide. Other customers who rely on our new products, such as automobile parts and healthcare products, are mainly located in Australia, Canada and Japan. *Note: Net income and revenue are for the fiscal year that ended Dec. 31, 2023. (Note: J-Star Holding Co. Ltd. cut its IPO’s size to 1.25 million shares – down from 2.0 million shares – and kept the price range at $4.00 to $5.00 – to raise $5.63 million in an F-1/A filing dated Aug. 2, 2024; in that same filing, the company said that Maxim Group is the new sole book-runner, replacing EF Hutton. Background: J-Star Holding Co. Ltd. reduced the size of its IPO again – to 2.0 million shares – down from 2.5 million shares – and kept the price range at $4.00 to $5.00 – to raise $9.0 million in an F-1/A filing dated June 13, 2024. In that June 13, 2024, filing, J-Star Holding Co. Ltd. disclosed that EF Hutton is the new sole book-runner, replacing the previous joint book-running team of Maxim Group LLC and Freedom Capital Markets.) (Background: J-Star Holding Co. Ltd. cut its IPO to 2.5 million shares – down from 4.0 million shares – and kept the price range at $4.00 to $5.00 – to raise $11.25 million, according to an F-1/A filing dated Sept.19, 2023.) (Note: J-Star Holding Co. Ltd. cut its IPO to 4.0 million shares – down from 5.375 million shares – and set the price range at $4.00 to $5.00 – an upward adjustment from its previous assumed IPO price of $4.00 – to raise $18.0 million, in an F-1/A filing dated Feb. 8, 2023. The downsizing represented a 16.3 percent cut in J-Star’s estimated IPO proceeds, which were $21.5 million under the previous terms. J-Star also disclosed a change in the bankers running its IPO, in the Feb. 8, 2023, F-1/A filing: Maxim Group LLC and Freedom Capital Markets are the joint book-runners, replacing ViewTrade Securities, which previously was the sole book-runner. Background: J-Star upsized its IPO in an F-1/A filing dated Sept. 2, 2022: 5.375 million shares at $4.00 – up from 5.25 million shares at $4.00 in a previous filing on Aug. 19, 2022. Under the new terms, the IPO’s proceeds are estimated at $21.5 million – or $500,000 more than the previous terms. J-Star Holding Co. Ltd. disclosed terms for its IPO in an F-1/A filing dated July 13, 2022: 3.75 million ordinary shares at $4.00 each to raise $15.0 million. J-Star Holding filed an F-1/A dated May 26, 2022, with financial information for the fiscal year ended Dec. 31, 2021. The company filed its F-1 on March 21, 2022, after submitting confidential IPO paperwork on Sept. 30, 2021.)   “.

J-Star Holding Co., Ltd. was founded in 1970 and has 817 employees. The company is located at 7/F-1, No. 633, Sec. 2, Taiwan Blvd., Xitun District, Taichung City 407, Taiwan (R.O.C.) and can be reached via phone at + 886-423229900 or on the web at http://www.ymaunivers.com/.