Elong Power Holding Ltd. [ELPW] - IPO
Elong Power Holding Ltd. is set to offer 300,000 Class A Ordinary Shares, with the Supporting Shareholder depositing 300,000 Class B Ordinary Shares as security for indemnification obligations.
Why this matters
Elong Power Holding Ltd. is a Cayman Islands holding company that operates through its subsidiary in China, focusing on the miscellaneous electrical machinery, equipment, and supplies sector. The company is coming to market with an offering of 300,000 Class A Ordinary Shares, while a Supporting Shareholder is depositing an equivalent number of Class B Ordinary Shares as security for indemnification obligations. The offering price for the units is set at $0.12, and the shares began trading on Nasdaq following a series of share consolidations that adjusted the share structure.