Kingtitan Technology, a Chinese provider of non-pneumatic tires, has filed with the SEC to raise up to $19 million in an initial public offering. The company is based in Yulin, China and plans to offer 3.8 million shares at a price range of $4 to $6, with the aim of raising $19 million. At the midpoint of this range, Kingtitan Technology would have a market value of $119 million.
The company’s primary focus is on developing, manufacturing and selling non-pneumatic tires through its PRC operating entity. Its current product portfolio includes three types of non-pneumatic tires designed for different applications such as sanitation industry truck tires, pan-travel tires and intelligent robot tires. In addition to this, Kingtitan Technology also generates revenue from selling other products like tire loading machines and wheel hubs.
Kingtitan Technology was founded in 2018 and reported $1 million in sales for the 12 months ending September 30, 2023. The company plans to list on the Nasdaq under the symbol KTA with Cathay Securities acting as the sole bookrunner on the deal. Kingtitan Technology initially filed confidentially on December 6, 2023.
