Yulong to price its IPO of 2.25 million shares between $6.25 and $7.25

Cuttone and Axiom Capital Management will be the bookrunning managers

By Devika Patel

Knoxville, Tenn., March 2 – Yulong Eco-Materials Ltd. will sell 2.25 million ordinary shares in its initial public offering with a 45-day greenshoe of 337,500 additional shares, according to an S-1/A filed Monday with the Securities and Exchange Commission. The deal was announced Dec. 19.

The shares will be sold at a price expected to fall between $6.25 and $7.25 per share.

Cuttone & Co., Inc. and Axiom Capital Management, Inc. are the bookrunners.

Proceeds will be used to complete a recycling plant and brick plant that the company will operate and for general corporate purposes.

The producer of fly-ash bricks and concrete is based in Pingdingshan, China. The company expects its shares will trade on the Nasdaq under the symbol “YECO.”

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