FGI Industries Ltd.

General Information

(Note: FGI Industries Ltd. priced its unit IPO on Jan. 24, 2022, at $6 – the bottom of its $6-to-$8 range – on 2.5 million units (stock and warrants). Background: FGI Industries had revised the IPO’s structure on Jan. 18, 2022, to a unit offering consisting of 2.5 million units at $6 to $8 each – from its previous structure as an IPO of only ordinary shares, consisting of 2.5 million shares at $6 to $8, according to an S-1/A filing. Each unit consists of one ordinary share and one five-year warrant to buy one ordinary share. The deal’s timing was pushed back to pricing on Jan. 24, 2022 – a delay from its initially scheduled pricing date on Jan. 12, 2022.

(The company’s ordinary shares will trade on the NASDAQ Capital Market under the symbol “FGI” and its warrants under the symbol “FGIW,” starting on Tuesday, Jan. 25, 2022.)

From the prospectus: “Foremost Groups Ltd. will hold approximately 72% of the voting power of our ordinary shares upon the closing of this offering. We will be a “controlled company” under the corporate governance rules of The Nasdaq Stock Market LLC (“Nasdaq”).”

We are a leading global supplier of kitchen and bath products. (Incorporated in the Cayman Islands)

Over the course of 30 years, we have built an industry-wide reputation for product innovation, quality, and excellent customer service. We are currently focused on the following product categories: sanitaryware (primarily toilets, sinks, pedestals and toilet seats), bath furniture (vanities, mirrors and cabinets), shower systems, customer kitchen cabinetry and other accessory items. These products are sold primarily for repair and remodel (“R&R”) activity and, to a lesser extent, new home or commercial construction.

We sell our products through numerous customer partners, including mass retail centers, wholesale and commercial distributors, online retailers and specialty stores. Some of our largest customers include The Home Depot, Menards, Ferguson and Lowe’s.


Industry: Kitchen & Bath Products (Cabinets, toilets, etc.)
Employees: 130
Founded: 1987
Contact Information
Address 906 Murray Road East Hanover, NJ 07869
Phone Number (973) 428-0400
Web Address http://www.fgi-industries.com/
View Prospectus: FGI Industries Ltd.
Financial Information
Market Cap $66.5mil
Revenues $165.0 mil (last 12 months)
Net Income $7.6 mil (last 12 months)
IPO Profile
Symbol FGI
Exchange NASDAQ
Shares (millions): 2.5
Price range $6.00 - $6.00
Est. $ Volume $15.0 mil
Manager / Joint Managers The Benchmark Company/ Northland Capital Markets
CO-Managers -
Expected To Trade: 1/25/2022
Status: Priced
Quiet Period Expiration Date:
Lock-Up Period Expiration Date:
SCOOP Rating
Rating Change