Graphex Group, which manufactures graphene products for lithium-ion batteries in China, has announced terms for its IPO On the US NYSE stock exchange. The company is currently listed on the Hong Kong Exchange (6128) and the OTCQX market (GRFXY). The Hong Kong-based company also stated plans to raise $8 million as part of the IPO.
Graphex manufactures natural spherical graphite and specialized graphite products that are used primarily in lithium-ion batteries, typically for electric vehicles and clean energy storage solutions. The company's graphene products operations are based in China and strategically located near a supply source of high-quality natural graphite. Graphex reports that it currently has approximately 30 customers in the PRC, primarily manufacturers of automotive batteries, conductive agents, refractory materials for the steel industry, and heat sink materials for precision electronics.
Graphex Group was founded in 1981 and booked $50 million in revenue for the 12 months ended December 31, 2021. It plans to list on the NYSE American under the symbol GRFX.