The Zhitong Finance App learned that Chinese automotive rubber and plastic sealing strip supplier Rubber Leaf Inc., RLEA.US (RLEA.US), announced the terms of listing on the NASDAQ on Friday. The company plans to raise $8 million by issuing 1.6 million shares at a price of $4 to $6 per share. Based on the midpoint of the proposed pricing range, Rubri's market value will reach US$214 million. The company is currently listed on the OTC (OTC) market under the ticker symbol “RLEA.”

According to reports, the company mainly operates through its subsidiary Rubri Seals (Zhejiang) Co., Ltd., which specializes in the production and sale of automotive rubber and plastic seals. Rubri is a supplier to several major automotive OEMs, including eGT New Energy Automotive (eGT New Energy Automotive) and Volkswagen, a joint venture between Dongfeng, Renault, and Nissan.

The Ningbo-based company was founded in 2019 and had revenue of $10 million for the fiscal year ending December 31, 2023. The company plans to list on NASDAQ under the ticker RLEA. Prime Number Capital was the sole bookkeeper for this transaction.