• G&G May 25 Masthead Web Ad

Planet Image International plans $27 million IPO

Mar 21, 2022 | 0 comments

Planet Image International, Cayman Islands holding company of Aster, is planning to raise $27 million (€24.45 million) via a Nasdaq IPO.

According to papers filed with the U.S. Securities and Exchange Commission on 16 March 2022 Planet Image International, the Cayman Islands holding company of Aster, is planning to raise $27 million (€24.45 million) via a Nasdaq IPO.

The company expects the initial public offering price to be in the range of $4.0 to $5.0 (€3.6 to €4.5) per Class A ordinary share and plans to use most of the funds to build a new multi-story production centre at their Yibo industrial park. Construction is expected to commence on completion of this offering, or approximately August 2022 and complete the construction in July 2023 and becoming operational in June 2024.

The expansion would increase the annual production capacity from approximately 27.7 million units of toner cartridges per year to approximately 57.8 million units of toner cartridges by December 2025.

The remaining funds raised by the IPO would be used for R&D, upgrading website software systems of our own websites; setting up additional overseas warehouses and general corporate purposes, which may include working capital needs and other corporate uses.

Revenues increased by $12.8 million (€11.59 million), or 21.6%, from $58.9 million (€53.34 million) for the six months ended 30 June 2020 to $71.7 million (€64.93 million) for the six months ended 30 June 2021 with net income increased by $4.7 million (€4.25 million), or 246.6%, from $1.9 million (€1.72 million) for the six months ended 30 June 2020 to $6.6 million (€5.97 million) for the six months ended 30 June 2021.

Aster expects a continued growth in the acceptance of compatible toner cartridges citing: “The compatible toner cartridge market has grown faster than the original-brand toner cartridge market. The total retail value of compatible toner cartridges in the U.S. and Europe increased from $1,125.7 million (€1,019.38 million) in 2015 to $1,686.8 million (€1,527.3 million) in 2020, representing a CAGR of 8.4%, which was higher than original-brand toner cartridges’ negative 1.2% CAGR from 2015 to 2020.”

Categories: World Focus

Search The Recycler

Related Posts

  • Cartridge Web Web Ad June 2025
  • Keypoint Remanufactured Supplies
  • IR Italiana May 25 web Ad
  • Biuromax June 2025 web ad
  • Integral web ad June 2025 v2
  • Mito Web Ad June 2025
  • GM Technology Web Ad June 2025
  • CET May 25 Web Ad
  • Mito Web Ad June 2025
  • CET May 25 Web Ad
  • GM Technology Web Ad June 2025
  • Integral web ad June 2025 v2
  • CET May 25 Web Ad
  • GM Technology Web Ad June 2025
  • Mito Web Ad June 2025
  • Integral web ad June 2025 v2