Japan-based recycling firm Seahawk Recycling increases shares offered by 88% ahead of $19 million US IPO
IPO Overview
Seahawk Recycling Holdings, a Japan-based provider of paper and scrap metal recycling services, raised the proposed deal size for its upcoming IPO on Wednesday.
The Tokyo, Japan-based company now plans to raise $19 million by offering 3.8 million shares at a price range of $4 to $6. The company had previously filed to offer 2 million shares at the same price range. At the revised deal size, Seahawk Recycling Holdings will raise 88% more in proceeds than previously anticipated and command a market cap of $136 million.
The company provides recycling services in Japan, including both scrap metal recycling, where the company acquires waste metal from collection companies and supplies it to smelters or trading companies, and waste paper recycling, where the company sources waste paper and supplies it to pulp mills and trading companies. The company delivers recycled products both domestically and throughout the Asia Pacific region.
Seahawk Recycling Holdings was founded in 2013 and booked $83 million in revenue for the 12 months ended September 30, 2025. It plans to list on the Nasdaq under the symbol SEAH. Cathay Securities is the sole bookrunner on the deal.
About the Company
Headquartered in Tokyo, Japan, we are an international recycling company dedicated to advancing sustainable material solutions across East Asia and Southeast Asia. As a committed advocate for environmental sustainability, we have devoted ourselves to promoting the development of a low-carbon and zero-waste global green circular economy by engaging in the trading of recyclable resources such as waste paper and scrap metal. Our operations are structured around two core business segments: waste paper recycling and scrap metal recycling. Under our waste paper recycling business, we operate across both the domestic Japanese and international markets by trading two main product categories: waste paper and paper pulp. We source waste papers from collection companies in Japan and supply them to recycled pulp mills or trading companies. In parallel, we purchase paper pulps from recycled pulp mills and supply them to paper manufacturers or trading companies. While our waste paper transactions are primarily domestic, our paper pulp exports serve a broad customer base across East Asia and Southeast Asia. Our scrap metal recycling business focuses on the trade of dismantled metal wires and old metal appliances such as motors, engines, air conditioners and refrigerators. For old metal appliances, we acquire these materials from collection companies.