Auto rubber products supplier Rubber Leaf increases deal size by 67% ahead of $25 million Nasdaq uplisting
February 10, 2026 News
Auto rubber products supplier Rubber Leaf decreases shares offered by 20% ahead of $20 million US IPO
Rubber Leaf, a Chinese supplier of automotive rubber and plastic sealing strips, lowered the proposed deal size for its upcoming IPO on Tuesday.
The Hong Kong, China-based company now plans to raise $20 million by offering 5 million shares at $4. The company had previously filed to offer 6.3 million shares at the same price. At the revised deal size, Rubber Leaf will raise 20% less in proceeds than previously anticipated and command a market cap of $184 million （-3% versus previous terms） and an enterprise value of $167 million.
IPO Overview
Rubber Leaf, a Chinese supplier of automotive rubber and plastic sealing strips, raised the proposed deal size for its upcoming IPO on Tuesday. The company is currently listed on the OTC under the symbol “RLEA”.
The Hong Kong-based company now plans to raise $25 million by offering 6.3 million shares at a price range of $4. The company had previously filed to offer 3 million shares at a range of $4 to $6. At the revised deal size, Rubber Leaf will raise 67% more in proceeds than previously anticipated and command a market cap of $189 million.
Operating primarily through its subsidiary Rubber Leaf Sealing Products, the company specializes in the production and sale of automotive rubber and plastic sealing strips. Rubber Leaf acts as a supplier to several major auto original equipment manufacturers, including eGT New Energy Automotive and Volkswagen.
Rubber Leaf was founded in 2011 and booked $7 million in revenue for the 12 months ended December 31, 2024. It plans to list on the Nasdaq under the symbol RLEA. Prime Number Capital is the sole bookrunner on the deal.
Company Overview
We are a Nevada-incorporated corporation, operating primarily through our wholly owned subsidiary, Rubber Leaf Sealing Products （Zhengjiang） Co., Ltd. （“RLSP”）。 Our primary offerings consist of automotive rubber and plastic sealing strips tailored for specific models. These products boast distinctive personalized customization features, making the direct sales model the predominant approach. We directly engage with the auto OEMs or their first-tier suppliers to obtain supplier qualifications, define product specifications and models, negotiate product prices and finalize orders. All of our executives are seasoned industry professionals with extensive experience in the automotive sector for more than 20 years. Their expertise and extensive network facilitate our market expansion for businesses. While securing approval from auto OEMs may be a time-intensive process, once established as their supplier, our continuing orders demonstrate stability spanning several years. We have established ourselves as an important supplier to several major auto original equipment manufacturers, or OEMs, including eGT New Energy Automotive Co., Ltd. （“eGT”） and Volkswagen.