{"id":13293,"date":"2022-10-06T12:49:52","date_gmt":"2022-10-06T09:49:52","guid":{"rendered":"https:\/\/roboforex.com\/blog\/?p=13293"},"modified":"2024-04-15T13:51:40","modified_gmt":"2024-04-15T10:51:40","slug":"ipo-of-fgi-industries","status":"publish","type":"post","link":"https:\/\/roboforex.com\/blog\/2022\/10\/06\/ipo-of-fgi-industries\/","title":{"rendered":"IPO of FGI Industries"},"content":{"rendered":"\n

At the time of an economic plunge or recession, investors switch their attention to companies with plain and simple business models. For example, the ones that manufacture and sell cloth, footwear, domestic appliances, and other consumer products.<\/p>\n\n\n\n

However, due to pessimistic market sentiment, these stocks<\/a> are plummeting and have already reached their all-time lows. This is the reason why one can buy shares of such companies at the price, which is much lower than it was during the IPO.<\/p>\n\n\n\n

The “star” of today’s article is FGI Industries Ltd., a company involved in the production and distribution of plumbing products, which went public on the NASDAQ on 25 January. At the time of the IPO, FGI Industries’ shares<\/a> cost $6. At the time of this writing, the price was $2.32.<\/p>\n\n\n\n

\"IPO<\/figure>\n\n\n\n

<\/span><\/a>What we know about FGI Industries<\/span><\/h2>\n\n\n\n

FGI Industries Ltd. Was separated from Foremost Groups Ltd after the corporate restructuring. It was registered in the Cayman Islands in May 2021. The company operates in the US, Canadian, and EU markets.<\/p>\n\n\n\n

\"Business<\/a>
Business of FGI Industries<\/em><\/figcaption><\/figure>\n\n\n\n

Parent company Foremost Groups is focused on the production and distribution of plumbing products, kitchen furniture, shower systems, and plumbing accessories. FGI Industries uses various sales channels, including distributor networks, such as Ferguson, Lowe's, Home Depot, and others.<\/p>\n\n\n\n

\"Business<\/a>
Business of FGI Industries<\/em><\/figcaption><\/figure>\n\n\n\n

FGI Industries products are produced on Foremost Groups manufacturing facilities. Most of them are distributed under the issuer’s brand. Customers are offered plumbing accessories from various price segments. However, the company’s top priority is cooperation with mid and top-of-the-range segments.<\/p>\n\n\n\n

\"Business<\/a>
Business of FGI Industries<\/em><\/figcaption><\/figure>\n\n\n\n

The company is planning to increase sales volume by introducing new products – Jetcoat shower systems and smart toilets.<\/p>\n\n\n\n

\"Business<\/a>
Business of FGI Industries<\/em><\/figcaption><\/figure>\n\n\n\n

As of 31 December 2021, FGI Industries raised $15.8 million in investment.<\/p>\n\n\n\n

<\/span><\/a>The prospects of FGI Industries’ target market<\/span><\/h2>\n\n\n\n

According to Grand View Research, the company’s target market in 2018 was estimated at $40.2 billion. By 2025, it may gain 12.3% annually. Experts from National Kitchen and Bath Association said that in 2021, FGI Industries’ target market was worth $75 billion.<\/p>\n\n\n\n

\"The<\/a>
The target market of FGI Industries<\/em><\/figcaption><\/figure>\n\n\n\n

The company’s major competitors are such manufacturers of plumbing products as:<\/p>\n\n\n\n