By Stephen Nakrosis
HW Electro filed for an initial public offering of its American depositary receipts with the U.S. Securities and Exchange Commission on Wednesday.
The company sells electric light commercial vehicles in Japan.
For the six months ended March 31, 2023, the company had a net loss of $5.9 million on revenue of $1.25 million. In the year-earlier period, the company reported a net loss of $2.6 million on revenue of $27,490.
HW Electro said it plans to apply to list its ADSs on the Nasdaq Capital Market under the symbol HWEP.
The company didn’t give an expected size for its IPO, nor did it offer an expected price range.
Univest Securities is listed as the offering’s sole book-running manager.
Write to Stephen Nakrosis at [email protected]
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